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

To: goldsheet who wrote (84722)	4/24/2002 2:46:40 PM
From: goldsheet	Respond to of 116900

There are 6 pdf press releases today from GFMS gfms.co.uk They are well worth reading. Points I found of interest: Average worldwide cash production costs are $176, the lowest in 15 years and down $11 from 2000. Total production costs were $228. 85% of mines had production costs under $271, which was last year's average price. Production in Mali was up 47%. Tanzania was up 97%. My conclusion: Gold mining looks pretty profitable at $300, so I do not see all the mine closings that were predicted, and I am now seeing more opportunities to develop new mines that were previously put on hold. I'm optimistic about the gold mining business.

To: goldsheet who wrote (84722)	4/25/2002 7:35:02 AM
From: long-gone	Read Replies (1) \| Respond to of 116900

Reduced production? Avgold to lay off 227 workers at ETC mine Dylan Griffiths April 25 2002 at 06:28AM Johannesburg - Avgold, a gold mining subsidiary of Anglovaal Mining, said yesterday it would lay off 16 percent of its workforce at its ETC mine by the end of this month to cut costs. Avgold would fire 227 workers out of its 1 425 employees at ETC at a cost of R3.5 million, the company said in a statement to the JSE Securities Exchange. This would bring gold mining costs down to about $180 an ounce from $191 in the three months to March 31, said company spokesperson Julian Gwillim. (cont) businessreport.co.za