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To: long-gone who wrote (1313)	8/7/1998 10:55:00 AM
From: Henry Volquardsen	Read Replies (1) \| Respond to of 17683

One of the things to keep in mind with the major multinational mining firms is that with the exception of the US all the major gold producers have seen their currencies weaken dramatically. So while gold may be languishing vs US$ it is actually strengthening vs the C$, A$ and South African Rand. Since the cost of production for mining is in local currency this has improved the operating margins for mines in these nations.