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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (574)	11/14/2001 9:14:19 AM
From: I_C_Deadpeople	Read Replies (1) \| Respond to of 39344

NEM trading at $22.25US, so that is about $35.60 Cnd, at .8 a share is $28.48 Cdn for an FN share.

To: russwinter who wrote (574)	11/14/2001 3:31:02 PM
From: Brumell	Respond to of 39344

Golden Goliath begins drilling program at Unuachic Golden Goliath Resources Ltd GNG Shares issued 17,935,001 Nov 13 close $0.44 Wed 14 Nov 2001 News Release Mr. J. Paul Sorbara reports The diamond drilling program is now under way at the company's Unuachic camp. The first area being drilled is the San Timoteo property, where six to eight holes are currently planned. Hole ST-0141 was started on Nov. 1 and was designed to extend to 250 metres, with the target zone (a strong chargeability high within a geological unit hosting an old adit) expected at about 100 metres. Water line problems made progress slow and on Nov. 11, at a depth of 115 metres, the drill bit and shell broke off and water return was lost. This situation could not be rectified and the hole had to be abandoned. Drill hole ST-0141A, which is on the same section as No. 1, is being prepared and will start later today or tomorrow. The water line has now been upgraded which will allow for faster progress. Drill hole ST-01411 ended (115 metres) in a sequence of lapilli tuff breccia cemented with carbonte, with pyrite, fluorite and strong epidote alteration that is cut by andesite dikes. The company's geologists are pleased with this assemblage. The 115 metres of core from the first hole have now been logged and samples have been selected for assay. The results will be released when several holes have been completed. The drilling program has a $1-million budget and it is currently planned to include 20 to 24 diamond drill holes on four of the company's 100 per cent owned Uruachic properties. The properties, or areas, will be drilled in order of logistical access, starting with San Timoteo and then moving to La Reforma, Corona and then Oteros. This will be the first drilling that has ever been undertaken on these properties. This program will continue through February of next year. Additional geophysical work (induced polarization) designed to extend coverage over anomalies located in the northeastern part of La Reforma and the northwestern part of Oteros have now been completed. Both of these anomalies have been significantly enlarged and represent excellent drill targets that the company plans to test during the current drill program. Representatives from a major mining company, including top technical people, who visited the Uruachic camp earlier this year, are returning for a second visit at the end of November. The purpose of this trip is to visit areas unseen in their first visit and to view the core. Golden Goliath is delighted with their interest level and with the project in general. (c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com

To: russwinter who wrote (574)	11/14/2001 3:35:51 PM
From: russwinter	Read Replies (2) \| Respond to of 39344

NEM has stated today that they intend to close out NDY's hedge book ASAP. That kind of accelerated demand in this thin market is not insignificant as NDY has forward sales of 5,854,000 oz (about half in 2005-2010) in Aussie dollars, plus another 575,000 oz from Mt. Leyshon. That's around 200 tonnes (half of annual CB sales under the WAG agreement) that will need to be purchased, or close to 8% of annual world gold production. Excerpted from Thom Calandra, Stockwatch column: "Newmont's Murdy on Wednesday morning also emphasized that he would unwind Normandy's hedged portfolio of forward gold sales as fast as he can. Newmont is an unhedged producer of gold - it sells gold at spot-gold prices. The company does not use derivatives, forward sales or other instruments to lock in higher prices for the metal, all of them practices said to depress the price of gold."