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

To: re3 who wrote (94975)	5/12/2003 2:08:09 PM
From: Lucretius	Respond to of 116815

what question?

To: re3 who wrote (94975)	5/12/2003 5:09:31 PM
From: goldsheet	Respond to of 116815

It's always nice to see someone write a report on something I have been saying for years Decline in gold exploration not a problem mips1.net “At a S270/oz gold price few [of the top ten] looked robust enough to add to supply. At levels around $350/oz they are virtually all likely to show enough of a return to warrant the green light.” [my bitch over the last few years was static predictions of doom and gloom based on $275, +$75 changes the dynamics of the industry completely. The death of gold mining and annual production dropping to 1800mt annually by 2010 remains ridiculous] The top ten list, with their gold resources, includes: 1 Target North & Sun Avgold (South Africa) 72m oz. 2 Sukhoi Log Russian government 46m oz. 3 Telfer Newcrest (Australia) 26m oz. 4 Pascua Barrick (Chile) 24m oz 5 Donlin Creek Placer/Novagold (Alaska) 23m oz. 6 Cerro Casale Placer/Bema (Chile) 23m oz. 7 Boddington expansion Newmont,AngloGold, Newcrest (Australia) 20m oz 8 Turquoise Hill Ivanhoe Mines (Mongolia) 19m oz. 9 Burnstone Great Basin Gold (S.Africa) 17m oz. 10 Pueblo Viejo Placer (Dominion Republic) 17m oz. Many of the elite deposits were discovered as long ago as the 1970s and many others are remnants of the 1990s exploration boom. [my previous point here was that we actually had an exploration boom in the 93-96 period where huge quantities of funds were OVERspent on exploration. When gold went under $300, the economics of the deposits went bad, but the resources did not disappear. They just went into hibernation waitung to become reserves at higher gold prices, like where we are now]