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

To: IngotWeTrust who wrote (7894)	2/25/1998 11:11:00 PM
From: Aloysius Q. Finnegan	Read Replies (2) \| Respond to of 116770

Hi ole 49r, On my placer claim there is a lot of naturally occurring mercury. The mercury ore cinnabar left large deposits of mercury in the stream bed. One can see extensive cinnabar vein occurrences in the surrounding rock. I'm not certain if its true ... but I've heard much of the mercury is released by forest fire action as well as erosion. But then a true inventive genius of great mental capacity such as Joe Champion, doesn't waste his time evaporating or precipitating mercury to find gold. Heck he turns the mercury into gold! Paddy

To: IngotWeTrust who wrote (7894)	2/26/1998 12:41:00 AM
From: PaulM	Respond to of 116770

'The world is about to enter a currency war...."; Japan Echo, Dec 97 japanecho.co.jp

To: IngotWeTrust who wrote (7894)	2/26/1998 2:12:00 PM
From: Bucky Katt	Read Replies (1) \| Respond to of 116770

49r--This is an interesting read about the state of the mining industry. Union, government and gold-mine management confront gold crisis 1.58 p.m. ET (1859 GMT) February 26, 1998 JOHANNESBURG, South Africa (AP) - Gold prices have plummeted, extraction costs have soared and 100,000 miners are in danger of losing their jobs unless unions, companies and the government find a plan to rescue the once-lustrous South African gold industry. Mindful their industry teeters on collapse, South Africa's gold interests began plotting a strategy Thursday to bolster gold companies and prevent massive layoffs. Global economic forces have driven gold prices to their lowest level in two decades. South Africa has seen prices drop from more than $400 per ounce a year ago to about $300 per ounce. With the world's deepest mines, South African mining companies spend about $300 to extract each ounce. They must now cut production costs to survive. Some mines may have to be closed. Up to 100,000 gold miners could lose their jobs this year, National Union of Mineworkers President James Motlatsi warned more than 300 delegates as he opened the two-day "gold summit.'' At least 42,000 miners lost their jobs last year. The miners' union called for a minimum 12-month moratorium on layoffs while solutions were being sought. The miners want government assistance for marginal mines as well as assistance in developing alternative jobs for the newly unemployed. Labor Minister Tito Mboweni ruled out a government bailout for gold mines, saying it would be wrong to use taxpayers' money to artificially maintain production and employment in an industry in long-term decline. I guess that means no IMF bailout for real money! Gold production peaked in 1970 at 1,000 tons. Production last year was an estimated 490 tons. Some older mines have been depleted. Mine operators go through old tailings, using new technology to extract gold traces left behind decades ago. Gold prices have dropped largely because governments and private investors are forsaking gold for other investments now that trade and investment barriers are dropping around the world.