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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: The Vet who wrote (33528)	12/22/2004 2:25:49 PM
From: E. Charters	Read Replies (1) \| Respond to of 39344

‘While Australian gold production fell slightly last year, a jump in the gold price during the first six months of 2003 has underpinned confidence for the year ahead,’ she said. ‘The survey demonstrates the industry’s major contribution to the nation and its expectation of continuing to deliver substantial economic, social and environmental benefits for all Australians, particularly in regional areas,’ Ms Gorrie said. Deloitte Partner, Chris Brant, said the investment levels were occurring at a time of continuing consolidation within the Australian gold sector. This was borne out by lower employment levels on 2002-03 figures and a rationalisation of production activity. But Mr Brant said the gold sector had maintained its resilience as a major export commodity, defying a frequently inaccurate description as an old-economy industry. ‘Long-term, the Australian gold industry is benefiting from increased confidence, a stable domestic economy and continued low interest rates,’ he said.

To: The Vet who wrote (33528)	12/22/2004 2:34:49 PM
From: E. Charters	Respond to of 39344

This is dated 1998. ------------------ Production of gold in Australia has grown strongly in recent years. Australia is ranked the world's third largest gold producer, only South Africa and the US produce more than Australia. Most of the Australian gold production comes from one of its states, Western Australia. In this paper, we use recent developments in econometric time series analysis to present an analysis of gold production and prices during the period 1914-1994. The results show that if the price of gold (relative to costs) increases by 10 percent and remain the same or the next 5 years, then in the first year gold production will rise by .3 percent; in the second year by 2.2 percent, in the third year by 7.4 percent, in the fourth year by 8.9 percent and in the fifth year by 10.7 percent.