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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: sea_urchin who wrote (2680)	12/16/1998 4:34:00 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 81128

Apparently, globalization is alive and well in the mining industry! market share is driving the current consolidation wave. The majors are doing all to get cash(so as to stay afloat and also accumulate the juniors) so that the other competitors do not get an "unfair" advantage during this downturn in POG. This phase was predicted last year when POG was 320. I'd guess about 2 years of sub 300 POG and nearly every major(even hedged ABX) would be crying uncle!

To: sea_urchin who wrote (2680)	12/16/1998 8:38:00 PM
From: William JH	Read Replies (1) \| Respond to of 81128

I read an article recently about the very heavy crude oil that is produced in the fields around Bakersfield, California. It is so thick that is will barely pour out of a jar at room temperature. This oil sells for about $5.00 bbl less than light sweet crude. The producers need about $11 bbl to break even, at the time of the article they were getting $6. Yet they kept producing, and hoping for a miracle, because if production stopped, the machinery and pipes associated with the well would all corrode and have to be replaced if the well was ever to be reopened. I wonder if this is not the case with some gold mines, particularly in North America. Once closed, there would be costs for environmental cleanup, then re-permitting if they were ever to be opened again. I'm way over my head here, just throwing this out as a thought.