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To: goldsheet who wrote (77521)9/26/2001 4:52:06 PM
From: goldsheet  Read Replies (4) | Respond to of 116896
 
FIX THE XAU INDEX LETTER

Matthew Holm matthew.holm@phlx.com
Ricardo Hunte ricardo.hunter@phlx.com

I would like to express my concerns about the XAU Index.

Since the removal of Hecla in March 2000 and Couer d'Alene in July 2000, there are no longer any silver stocks in the Gold/Silver Index. Viable candidates for inclusion would be Pan American Silver and Apex Silver, with market caps of $US150M and $US310M, respectively. Both are much larger than either HL or CDE.

The inclusion of Phelps Dodge in July 2000 did not make sense. I can understand FreeportMcMoRan since it produces much gold and silver, and could easily make a case for Buenaventura (NYSE:BVN, market cap $US900M, producing 1moz of gold and 11moz of silver), but can not see any reason for Phelps Dodge in the XAU Index. Since PD has dropped in price from $40 then to $27 now, I believe the XAU index does not accurately represent the gold/silver industry sector.

Gold stocks that might be viable candidate for inclusion:

Franco Nevada TSE:FN $US 2.50B market cap
Gold Fields NASDAQ:GOLD 1.95B
Goldcorp NYSE:GG 950M
Harmony NASDAQ:HGMCY 550M

Normandy, a $US 1.5B market cap Australian firm, probably belongs in the index but will eventually be included if Anglogold completes their proposed mergers.

Thank you for your time and consideration.

Best Regards,

Bob Johnson
GOLDSHEET Mining Directory
goldsheetlinks.com



To: goldsheet who wrote (77521)9/26/2001 5:45:09 PM
From: long-gone  Respond to of 116896
 
So I guess you'll now repeat my wife's prohibitions against starting conversations with persons unknown to me with "Listen you stupid..." or any other sentence beginning with an action verb..



To: goldsheet who wrote (77521)9/27/2001 7:28:31 AM
From: long-gone  Respond to of 116896
 
Wednesday September 26, 7:42 pm Eastern Time
Water supplies alleged contaminated by Peru gold mine
LIMA, Peru, Sept 26 (Reuters) - Hundreds of protesters blocked a major highway in northern Peru on Wednesday, alleging local water supplies had been contaminated by toxic mercury from Latin America's largest gold mine Yanacocha, but officials denied the report.

The protesters in the province of Cajamarca, some 530 miles (850 km) northeast of Lima, demanded mining be halted during probes into water purity.

``We reject the environmental contamination from Yanacocha,'' student leader Jorge Malca told Canal N cable television.

Yanacocha officials were not available for comment but Energy and Mines Minister Jaime Quijandria told RPP radio that it was ``simply and totally impossible'' for the water to have been contaminated with mercury.

He said water tables were checked monthly. Nevertheless he would ask judicial authorities to look into the matter and ``If there is responsibility on the company's part, we are going to be the first to establish sanctions.''

Yanacocha is controlled by North America's biggest gold miner by production Newmont Mining Corp. (NYSE:NEM - news). Peru's Buenaventura holds a minority stake in Yanacocha.
biz.yahoo.com