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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (31494)	3/21/2008 12:57:22 PM
From: Maurice Winn	Read Replies (4) \| Respond to of 217709

ElM, look at the price of gold. Look at the Aztec mania building - here goes $10bn into digging more gold so it can stored in a vault and guarded forever. miningweekly.co.za <The world’s largest gold producer, Barrick Gold, will invest a record $10-billion in new mines during the next five to seven years amid record gold prices, CEO Gregory Wilkins estimates. Barrick is developing projects in countries including Tanzania and Argentina and is studying the viability of others in South Africa and the US. Wilkins expects borrowing costs to decline and may wait as long as nine months to sell bonds and refinance debt. “We know the treasury rate is coming down, and that’s a good reason to wait,’’ Wilkins said in an interview. “Credit spreads will come down with people getting more confident, so I think the debt-financing market will look better six to nine months from now.” Barrick will borrow to refinance a loan it used to buy a stake in Nevada’s Cortez mine for $1,7-billion and to pay for its share of the $2,7-billion development of the Pueblo Viejo project, in the Dominican Republic, Wilkins said. The company may seek a bank loan using the project as collateral to pay for part of its development, he said. > Brazil could put all their capital into digging for gold. It's a no-brainer. Meanwhile, gold has dropped in price by 10% suddenly. That must have made those who loaded up at $1020 a little bit nervous. C2, are you loading up on gold at the bargain prices? With capital being diverted to gold production from useful things like building poles and femtocells all over the world, the Aztec gold diggers will look like the Easter Islanders with their army of moais = huge industry, with stacks of gold just sitting there doing nothing, while the world moves on. Mqurice