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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Roads End who wrote (183282)	7/24/2002 10:37:45 PM
From: patron_anejo_por_favor	Read Replies (5) \| Respond to of 436258

Ya gotta love GoldCorpse's attitude, they really are a GoldBug's company. Hell, they even prefer to keep gold on the balance sheet instead of (Canucki)ClownBux, check this out: GOLD IS MONEY - GOLDCORP IS GOLD A Solid Gold Balance Sheet with More Gold than Luxembourg or Hong Kong. Goldcorp believes strongly that Gold is Money, and continues to strengthen its balance sheet to reflect this belief. Goldcorp now holds a total of 143,595 ounces of gold (4.47 tonnes or 4.90 tons) which exceeds the total gold reserves of more than 25% of the countries which own gold. For example, this amount is greater than the gold reserves of each of Luxembourg and Hong Kong. During the second quarter the gold holdings were increased in two ways. First, the Company continued to hold back a portion of its gold production as inventory increasing its gold bullion inventory by 6,697 ounces to 63,425 ounces. Since the beginning of 2002, the Company has increased its bullion holdings by a total of 28,364 ounces or approximately 10% of total production. This bullion is carried on the balance sheet at cost, in accordance with Canadian GAAP. Second, the Company purchased 80,170 ounces of gold bullion during the second quarter of 2002 at an average price of $323 per ounce. Fluctuations in the mark to market value of this portion of the gold bullion holdings are accounted for as unrealized gains or losses and reported quarterly in accordance with Canadian GAAP. Plus there cost of production is the lowest among major NA producers. A good company to hold, especially if the POG breaks out of it's funk...ERRR, RANGE! Disclosure: Long Goldcorp shares

To: Roads End who wrote (183282)	7/24/2002 10:44:24 PM
From: Haim R. Branisteanu	Read Replies (2) \| Respond to of 436258

EURONOMICS: Confidence At Risk From Financial Downturn By Daniel Schwammenthal Of DOW JONES NEWSWIRES BRUSSELS (Dow Jones)--Business confidence in the euro zone is increasingly at risk from plunging stock markets and a strengthening euro. The most recent evidence comes in the form of surveys of business leaders in Belgium and Italy, while Thursday brings the influential business sentiment report from Germany's Ifo economic research institute, which is expected to underline the fragile mood in the boardrooms of the euro zone's biggest economy. Both the Italian and Belgian surveys showed a drop in confidence for the second consecutive month and confirm any upturn will be slower than previously expected. Growth is at stake if these figures keep falling. Bart Van Craenyest, economist for KBC in Brussels, had originally forecast an improvement in Belgian business sentiment. "If the survey falls any further, we can talk about a new turning point," he said. The Italian business confidence index fell to 93.9 in July from 94.7, the lowest in five months. The Belgian survey fell to -6.5 from -5.5, with the key manufacturing index dropping almost two points. Belgian's open economy is a bellwether for the larger euro zone. The vast majority of its exports, which make up 75% of its gross domestic product, go to its European neighbors. "If Europe's recovery were to falter, we would first see it in Belgium," said Peter Van Houte, economist at BBL in Brussels. The reasons for the gloomier outlook are the same in Italy and in Belgium: stock market gloom and the rapid improvement in the euro's exchange rate, which makes exports from the area less competitive. And with neither factor likely to improve soon, the outlook will remain bleak. "Business confidence won't rebound over the next few months," predicted Fabio Scacciavillani, senior economist at Goldman Sachs in London. Demand Stagnating "The problem is that there is basically no real growth at all in euro-zone domestic demand," said Norman Williams, economist at Barclays Capital In London. Consumers worried about unemployment are loath to spend, while the stock market meltdown has heightened job fears. In addition, the drop in share prices is hurting personal wealth, which also has a psychological impact. Although continental Europeans still invest less in equities than Americans, the effect isn't negligible. In Belgium, for example, stock savings make up 45% of GDP. At the business level, many European multinationals are vulnerable, having gone on a spending spree in the U.S. over the past decade, Daimler's takeover of Chrysler being one of the more spectacular acquisitions. The stock market's plunge will hurt the value of their U.S. subsidiaries. At the same time, the weaker U.S. dollar translates into fewer euros for their bottom line. The danger now is that European businessmen will cut spending as the climate worsens. "Firms who believe they have little reason for enthusiasm may rein in on investment plans or not carry them out at all, said Ed Teather, economist at UBS Warburg in London. -By Daniel Schwammenthal, Dow Jones Newswires; +32 2 473 555 321; daniel.schwammenthal@dowjones.com (END) Dow Jones Newswires 24-07-02