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To: Snowshoe who wrote (15931)	3/1/2002 5:36:53 PM
From: Box-By-The-Riviera™	Respond to of 74559

actually you have that confused.. cost of production is what it is. difference is, they are paid in dollar gold vs. rand.. end product price. that's a plus currently from an inflow surplus view... should rand rise, dollar fall, gold rise.. i.e. gold is rising with a higher dollar price... status quo.. the rand was a bonus. not a handicap.

To: Snowshoe who wrote (15931)	3/1/2002 11:51:21 PM
From: Cogito Ergo Sum	Respond to of 74559

Hey Snowshoe, It's all really too complicated! You're correct, gold is only one hedge.....

To: Snowshoe who wrote (15931)	3/2/2002 10:13:28 PM
From: lisalisalisa	Respond to of 74559

I never factored rand devaluation into the miners when I bought them. That was a bonus. It is my understanding if US$ were to fall and POG to rise (in US$ terms), while rand rose relative to the US$- that this would actually be more beneficial in terms of profit for SA gold miners than the current situation. Also though, couldn't the US$ fall, the rand stay against the US$ (thus falling against whatever currency you are basing it against)and the POG rise? In this case it would best of all worlds for gold. Anyway thinking of all the possibilities is quite complicated.