Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: PAUL ROBERTSON who wrote (84765)	4/25/2002 5:05:18 PM
From: goldsheet	Respond to of 117026

PDG wasted the extra dollars they made hedging buying Getchell, South Deep, and other questionable assets. ABX took the extra dollars from hedging and is currently involved in 35 projects worldwide, and they have something to show for it. Sutton and Pangea worked out great, Homestake looks like a better fit every day, etc.. Their reserves went from 79.3 to 82.3 last year after producing 6moz, a 150% replacement rate. Now for only $US6 million they seem to have "stolen" 3.5moz from Centromin in Peru. As you know, I have never thought hedging was an issue/problem, so it eventually comes back to management - ABX obviously put the funds to a much better use than PDG. I can never figure out why PDG never capitalized on Placer Pacific (Australia). They had joint ventures and were operators of mines with Delta Gold and Goldfields Limited. Now that those two merged into Auriongold, over 50% of Auriongold's production comes from mines co-owned and operated by Placer Dome. Placer Dome should have bought them out years ago, at a much lower price !! HUGE missed opportunity, IMHO.