Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: IngotWeTrust who wrote (74214)	7/30/2001 10:07:40 PM
From: marynell	Read Replies (1) \| Respond to of 116815

I agree that Barrick is the tool of the U.S. government and therefore has a tremendous competitive advantage over other companies, as Barrick will receive the support of all the coercion and tricks that the CIA and the State Dept. can bring to bear on developing countries. There are two big differences between your posts and Russwinter's posts: (1) he gives data and facts, whereas you don't; (2) he is a gentleman, and you are an ass.

To: IngotWeTrust who wrote (74214)	7/30/2001 10:11:50 PM
From: russwinter	Read Replies (2) \| Respond to of 116815

GT, about the only thing I'll say is that I've given this reserve replacement issue a lot more thought than you and that's obvious. And it has nothing to do with comparative brains or my ego. It's only because I'm pretty heavily invested in various exploration plays, and thus better at least try to do my homework on it. And it's mostly just grunt work, not rocket science. If you just want to dismiss my points as "intellectual cockiness" (and I'll just admit to only a 113 IQ right here and now) go right ahead. If anybody else out there cares to discuss this important on topic issue intelligently I'd love to pursue it. Despite what you may think, there aren't that many "mystery" or "ABX insider" superlative advanced deposits out there. The good ones are fairly well known (often slowly evolving) stories. I would imagine that ABX will find something to buy at some point, I just don't think someone is just going to drop a great deposit (that works well at 265) in their (or anybody else)lap for chicken feed. Maybe that's what these companies think, but in the meantime they are burning through a bunch of reserves. And their $27 million exploration budget doesn't help. Time's a wastin'. I strongly believe that many (you are not alone)following gold are grossly overoptimistic on this reserve replacement issue AT THESE 260ish PRICES. Look into it.

To: IngotWeTrust who wrote (74214)	7/31/2001 1:27:45 AM
From: E. Charters	Read Replies (2) \| Respond to of 116815

I have stated that ABX has had some wrongful flack in the past from eco-politico types on their record in the Bulyanhulu. Having said that, if I were a smallish company or a prospector with a good property I would be extremely careful about doing a deal with them. Argentina had some clout and some good promotion and got a fair share price for what is now inventory. In a good gold market it would have been Argentina Gold that got beat, not Barrick. I know of the inside details of two properties that people dealt to Barrick in Timmins. One of the properties became a fairly profitable mine. I would have to say that slinging hamburgers in MacDonalds is much more profitable, and MacDonald's is relatively munificent of emolument in comparison. Having said that, I would be hard put to name an honourable company or group to deal with in Gold or any other commodity. Names like Teck, Cominco, Noranda, Phelps Dodge, and Dome Mines, do not come readily to mind when the subject of "straight shooters" is raised. In fact the best recommendation I can give when any of the above, and a further laundry list of US and Canadian companies approaches your claims, is, start shooting, and don't stop until they stop coming. I suppose you could say "what's new?". But if someone could come up with a name of a straight-up, developing, no-nonsense, fair and honest gold company that a guy could sell real mine potential to for a fair buck, it would be well worth their while. And worth the while of the acquiring company, too. So far, in my 26 years in the biz there ain't no sich animal. It is amusing to hear people's suggestions though. A real source of entertainment. "Have you ever talked to so-and-so", actually has had me double over with laughter. Yes, I usually have, and these ingenuous helpers have just named the biggest crook in the business, on the average. Another great line was: "I know a geologist who worked for 20 years for Noranda, I will run it by him and see if there is any interest in your area." Yah. Right. I used to laugh out loud at these kind of comments, but in fact, you never know. It's like betting on 6 banks to hit the side pocket. Sometimes it happens, and after all it's the long shots you have to bet on in this business. There are no sure things. Clive came out of Bema which was staking and services company in BC, sort of like Jean Alix - West. He never got much respect as the "expertise" and old boy co-efficient was not there. He never took it to the right money politically. Wrong side of the tracks. In the end it underscores how hard it is to raise money for development of a mere mine. This has been the case for the last 500 years since the Rothschilds. Most people end up going for black bag stuff for the first buck. But if the greed factor cannot be generated and a bidding war started you have to sell to the people who print cash such as the BOL types and their friends. In the end they will shoot you like they shot Kennedy and Oakes, if they cannot control your politics or your cash. It seems in my country if you ain't provincially partisan, and liberal, and you got money, you are an automatic slime ball in many a tome of press punditry. This is not necessarily true in fact, but the corollary if you jump the fence is more depressingly fitting. What amazes me about brainwashing is that they can actually make you believe that in fact it is good to be a political zombie and sins of the good rulers are just an illusion whereas the same behaviour in others is a mortal shame. Are politics, mine development and gold prices strange bedfellows? They are much more related than we may care to believe. The entire depressed state of metal mining, gold prices and the investment market is the sole responsibility of those who rule our legislatures and congress. It the implementation of their pet policies for the last 30 years, (stolen and cobbled together from convenient sources they cared to believe, that underlined their prejudices and filled in their ignorance), that has led to the boom-bust economy, the overspending on Tulip high tech, and the degradation of basic industry and infrastructure, such as the California power grid. EC<:-}