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

To: TH who wrote (97514)4/22/2004 2:38:17 AM
From: Condor  Read Replies (1) | Respond to of 116837
 
Not sure if this is going to help but:

In mining, there is ore and there is rock (waste).

What determines whether it is ore or rock is the economics of the material. If it can be mined at a profit then it is ore. If not, it is waste. If the price of a metal rises, then what was once waste becomes ore. Hence, the more metal that is instantly mineable and destined for the market supply. Supply can be brought up quite quickly because existing operating mines can now expand and chase lower grade areas in their mines and holdings and increase that mines supply to the market.

Hope this begins to address your questions, but perhaps you already understand this.

Cheers

C



To: TH who wrote (97514)4/22/2004 9:56:12 AM
From: gregor  Read Replies (2) | Respond to of 116837
 
It's like mining any mineral. You have "reserves that are more concentrated, easier to access, and cheaper to process and get to market. You have to look at the total picture and determine a cost of extraction. As the price of gold increases more reserves are able to be profitably accessed thus increasing the supply and putting a cap on the price. What this man was saying is that he thought from his perspective 450 would be the top.


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