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

To: goldsheet who wrote (82266)	2/18/2002 2:48:58 PM
From: long-gone	Respond to of 116836

<<Australia's gold output fell for the fourth year in a row in 2001, down 5 percent from the year before to 281 metric tons.>> You're breaking the rules again, your post increases I post decreases, remember? :)

To: goldsheet who wrote (82266)	2/19/2002 6:57:43 AM
From: IngotWeTrust	Respond to of 116836

Bob: Have fun w/this one: OPEN QUOTE: A study by BHP Minerals published in 2000 asked,"What discovery rates would be required if the industry had to replace gold reserves at the current rates of production, by new grassroots discoveries?" The answer is fifteen, 5 Million ounce gold deposits annually. Exploration has been in the doldrums for five years, and the junior sector as we know has been trashed - five years in which the brooding stock has produced almost no new chicks. So, in the next few years expect more industry consolidation as companies use the only available means at hand - mergers and takeovers - to secure ounces in the ground. Gold production is now in decline and is forecasted to continue in decline for several years, no matter what the price does. It will take several years of playing catch-up to get production anywhere near current demand levels. CLOSE QUOTE