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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (2493)	10/5/2001 12:39:30 AM
From: goldsheet	Respond to of 4051

Here's my rough estimate of the new XAU goldsheetlinks.com

To: Claude Cormier who wrote (2493)	10/6/2001 1:49:47 PM
From: goldsheet	Respond to of 4051

RE: XAU Index Someone asked me about the need to replace HM after the ABX merger, so I thoughts I'd post my thought here: <I'm curious as to what your other suggestions were for when HM merges with ABX, there might be a need for another company.> Gold Fields (GOLD) probably should have stayed in the XAU. If you recall it was added in July 2000 with PD, then replaced in August 2000 by Meridian. It seems the best choice to replace HM. GOLD has a market cap of about $US2.25B versus $2.40B for HM. I suggested Buenaventura as a replacement for Phelps Dodge, despite the fact that it is primarily a copper miner. At least it produces 964,000 ounces of gold versus only 117,000 for PD. It has a $1.3B market cap. Franco-Nevada and Normandy are obviously larger market cap miners, but are not US listed, so I can understand why they are not included. Other miners that produce enough gold to be considered include Ashanti (1.7moz), Durban (1.1moz), Kinross (950koz), Echo Bay (700k), and Cambior (600koz) BUT none of them have large market caps. Ashanti might be work with a $US400 market cap, but the others are barely meeting their listing requirements and/or are trading under $US1.