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 & Gold Stock Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Feraldo who wrote (12478)	3/12/2008 1:12:35 PM
From: JimisJim	Read Replies (1) \| Respond to of 29622

In general, I agree with you... but remember that costs for mining operations are going up quickly, especially for companies bringing new mines online -- cost of energy and labor is skyrocketing for miners, so some of the increase in prices of gold and silver are eaten up by the record high energy prices they pay to build and produce. After taking a few chips off the table to lock in profits, I am holding the rest of my PMs here... as long as the fed keeps feeding inflation and sinking the dollar, I can't think of any other ideas beside oil & gas that work right now. Jim

To: Feraldo who wrote (12478)	3/12/2008 5:03:36 PM
From: rubbersoul	Respond to of 29622

Feraldo, I agree with both you and JimsJims. IMO, majors and producing PM companies will shine here since these companies already have infrastructure paid for and are able to take immediate advantage of higher gold prices. Of course, major discoveries by explorers will also grab the markets' attention too. Goldcorp is in a sweet position currently IMO: UPDATE 1-Goldcorp Mexico sees Penasquito gold output soon Wed Mar 12, 2008 1:33pm EDT MEXICO CITY, March 12 (Reuters) - Goldcorp Inc (G.TO: Quote, Profile, Research)(GG.N: Quote, Profile, Research) expects to start producing gold from its Penasquito mine in northern Mexico over the next two months, well ahead of schedule, the Canadian company's Mexico subsidiary said on Wednesday. Goldcorp Mexico Vice President Salvador Garcia told Reuters at a Canadian Chamber of Commerce event that the company expects the Penasquito mine, in Zacatecas state, to produce at least 30,000 ounces of gold in 2008. "We were looking at the middle of the last quarter of this year (but) it's been quicker. Happily, the suppliers and contractors have done better," Garcia said. A Goldcorp spokeswoman in Toronto said output could even reach 70,000 ounces this year. Garcia said Goldcorp would scale up production at Penasquito to at least 80,000 ounces in 2009 and more than 150,000 ounces in 2010 as the mine ramps up to full capacity of around 500,000 ounces annually in the next few years, making it Mexico's largest gold mine. Goldcorp will invest $710 million this year in Penasquito, which has 13 million ounces of gold reserves, Garcia said. Goldcorp has already said it expects to invest $1.5 billion over the mine's estimated life span of 26 years. (Reporting by Mica Rosenberg, editing by Matthew Lewis) © Reuters 2008 All rights reserved reuters.com