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

To: long-gone who wrote (50)	12/24/1997 9:26:00 AM
From: Bill Grant	Read Replies (1) \| Respond to of 415

Richard, I wish I knew. I do believe there was an immediate benefit to the industry in general by dramatically announcing that the acquisition/consolidation phase is officially open (sort of like the beginning of hunting season). It is no secret to anybody that the survivors in the industry will have to find better and cheaper ways to explore for and dig up the stuff. Homestake claims the acquisition will have an effect right away on cash flow and the bottom line. From what I have been able to read, I believe they are correct, and that we will see a share price increase in the not too distant future, assuming, and this is a big assumption, that we have reached or nearly reached the bottom for POG. It will be interesting to see whether they can lower their cash production cost from $240 to $225. I understand that Plutonic's cash cost in 1997 is closer to $270? (Please correct any of this that is incorrect). Best wishes for the holidays and the New Year. Bill