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

To: Casey who wrote (9113)	3/31/1998 10:12:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 116762

Casey; Now I don't want you to buy any, leave that up to me. But as for her getting in a quandry. You need to look again, they got puts out to 1999.. for 157,000 ounses at $ 3.45 USD, thats all of 98 production and most half of 99s. -------------------------- Besides that: Cash operating costs were US$251 (plus royalties of $2/oz) per ounce of gold for 1997 compared with US$205 (plus royalties of $2/oz) per ounce in 1996. The increase in cash operating costs results mainly from mining lower grade ore zones and from higher stripping ratios in 1997. With higher grade zones being mined in 1998 and beyond, cash operating costs are expected to decrease significantly. ------------------------------- So cost were up but they think they will be down. ------------------------------- Besides that: 1997 1996 NET INCREASE (DECREASE) IN CASH 73,123 10,132 CASH - BEGINNING OF YEAR 22,114 11,982 -------- ------- CASH - END OF YEAR 95,237 22,114 -------- ------- -------- ------- CASH - END OF YEAR CONSISTS OF: Cash 72,758 15,266 Restricted cash 22,479 6,848 -------- ------- CASH - END OF YEAR 95,237 22,114 -------- ------- -------------------- Her earnings loss was due to writing off some assests..which to me makes her stronger now . If she was going backward you would not see that increase in her cash position. So what you said RE > I checked out DAY and their production is only hedged to mid 1998. If gold does rise and stay up they'll be ok. Otherwise, they will be in a quandry. << ----- Don't add up to me, to top it off look at the cash that in tousands Candanian..but still stronger per share than any of her peers..a quandry ? heck gold could go to zero and she will still be here..and still mining. I'l wager every cent I got that before she goes under every damm miner in Canada will close shop. ---------------------- But don't buy any before I finnish getting what I can at this level.. ( I was over 10% of the volume today, and plan on being 20% or more of it tomorrow if she don't out run me ) <G> I Just got to get a little more dough to the broker. Jim