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

To: Crimson Ghost who wrote (12554)	6/3/1998 8:01:00 AM
From: Bobby Yellin	Read Replies (2) \| Respond to of 116815

Hi- I think we are really fortunate to have Bill Murphy posting..of course,without saying,we are quite fortunate to have you and all the incredibly great people who post here..(Hi Alex!) just heard that big corporations will pay much higher health costs next year..not certain if I heard five or six percent.. my foggy crystal ball, because of demographics,more and more sophiscated derivative schemes and some of the powers that be having learnt from history,plus the US being based on 85 percent service economy..there will probably be a market erosion rather than crash.. let me eat those words..don't think the dollar will go down hard.. do think gold will start going up though..have never read how much gold actually costs to produce when one factors in all the failed exploration costs..what do we hear about oil100 dollars a barrel if one includes defense spending heard..don't know if it is correct that MCI will include a 5.9 percent charge on long distance service.. didn't hear the exact charge for a t and t.. here Sprint says it can cut costs by 70 percent...(that definitely implies that the consumer has been getting ripped off for benefit of shareholders) but since US economy based on service and corporations are buying distressed Asian companies..and we have moved big big time into high tech and information age..(has anybody heard what percent of increase in jobs is high tech related?)..although I don't think we have entered into a new paradigm..don't see a major shock to this economy.. also since there has been such an incredible increase in small businesses...and since I have read some of the hacketing of employees from big corporations has backfired since some are now shortstaffed of knowledgeable employees..just looks as if corporate profits will be headed down regardless of creative bookkeeping and buybacks to reduce shares and increase "better" earnings.. also don't think there could be a chance of meltdown until euro is in blossom..bet all the governments of world would prop up markets.. just guessing

To: Crimson Ghost who wrote (12554)	6/3/1998 6:42:00 PM
From: goldsnow	Respond to of 116815

Compelling reasons for industrialised nations not to kill golden gooze (commodities rich nations) Gold cannot go down on selling without world-wide crisis Indonesia style... Headline: Anglo (JOH:AACJ) says ZZCM woes overhang Konkola ====================================================================== By Darren Schuettler JOHANNESBURG, June 3 (Reuters) - Mining giant Anglo American Corp of South Africa Ltd (JOH:AACJ) has said its final commitment to the Konkola Deep copper project in Zambia would depend on financing and the privatisation of largely state-owned Zambia Consolidated Copper Mines Ltd (SBF:ZCC) (ZCCM) (SBF:ZCC). Anglo American, and its subsidiary Zambia Copper Investments Ltd (JOH:ZCIJ) (ZCI), are in the midst of a feasibility study on Konkola, one of several projects Zambia is counting on to revive its struggling copperbelt. "The Anglo/ZCI review of the Konkola Deep mine project is coming to a conclusion and while the results look encouraging, there remain a number of conditions which we feel must be satisfied," Bobby Danchin, head of Anglo's new mining business division, told analysts at a results presentation on Tuesday. "Not least the raising of third-party finance on acceptable terms and the conclusion of the privatisation of the rest of ZCCM before a final commitment is made," Danchin said. Zambia's bid to privatise ZCCM suffered a major blow in April when talks to sell the country's two biggest copper mines, Nkana and Nchanga, to a foreign mining consortium collapsed. The Kafue group has been negotiating to buy the mines for the past 15 months, but could not agree with Zambian officials on a price. Last week, two major Kafue partners, Canada's Noranda Inc (TSE:NOR) and U.S.-based Phelps Dodge (NYSE:PD), left the consortium in frustration. The remaining partners, South Africa's Avmin Ltd (JOH:AVMJ) and the Commonwealth Development Corp (CDC), said on Monday they would seek to renew talks with the Zambian government. Anglo American, which holds a 27.3 percent stake in ZCCM through its ZCI subsidiary, has said any delay in ZCCM's privatisation would be a serious concern. The initial plan for Konkola Deep mine was for output of around 180,000 tonnes of finished copper a year which could increase to 340,000 tonnes. The mine resources are estimated around 340 million tonnes at 3.8 percent copper content. The estimated development cost was between $700 million and $800 million. The Konkola project has lost partners as well, the latest departure coming in March when Canada's Falconbridge Ltd (TSE:FL) left due to weak copper prices. At the time, Anglo said it would continue the feasibility study and might seek other partners. ZCCM's problems aside, Danchin said Konkola was one of two copper/cobalt projects in the region with "enormous potential." In neighbouring Democratic Republic of the Congo, Anglo is co-leader of a consortium hoping to rehabilitate a 22,000 sq km area near the mining centre of Kolwezi. The Kolwezi Group West project would involve reviving large open pits and dumps in the mineral rich central African country. "Its difficult...to overstate the enormous potential of these copper-cobalt deposits, which, at Group West alone, have the capacity to produce 400,000 tonnes of copper and 15,000 tonnes of cobalt annually for well over 20 years," Danchin said. The other consortium partners include Belgium's Union Miniere (BRU:ACUM), Billiton Plc (ISEL:BLT), South Africa's Iscor Ltd (JOH:ISCO), Canada's First Quantum Minerals (VSE:FM) and a Chinese partner. The Konkola and Kolwezi projects are part of Anglo American's drive to expand further into Africa. "Africa to the north of us has the geological credentials to produce world class mines similar to the ones that have been so important to the development of southern Africa," Danchin said. In the search for new projects, Anglogold Ltd (JOH:ANGJ) recently linked up with Canada's Barrick Gold Corp (TSE:ABX) to search for gold in the Democratic Republic of the Congo, Mali and Senegal. The most advanced of these gold properties is a 57,000 sq km concession in Congo Republic's Kilo-Moto area, which Danchin said is producing attractive drill results. In Tanzania, Anglo is well into the first year of a two-year feasibility study on the Kabanga nickel project, in which it holds a 60 percent stake in a joint venture with Canada's Sutton Resources. Danchin said the Kabanga North ore body could see an underground mine producing 100,000 tonnes of concentrate annually containing 15 percent nickel, 1.2 percent cobalt and 2.5 percent copper with a mine life of 14 years. newsroom@reuters.co.za)) Copyright 1998, Reuters News Service

To: Crimson Ghost who wrote (12554)	6/3/1998 9:47:00 PM
From: Terry Rose	Read Replies (2) \| Respond to of 116815

George, In a market meltdown or a protracted bear market I think that the federal reserve will lower short-term rates and crank up the printing presses to prevent the resulting deflation that will occur if they are not successful. The inflationary implications of this action should light up the gold market as the dollar falls and long-term rates rise. If not successful then we will get deflation and gold probably will go down initially. What gold does later has been studied during previous eras of deflation and in the past has done quite well. All being said whether or not one should be invested in gold or other markets depends on timing. Since we now have a triple bottom in gold I think it's a good time to own gold. Terry,