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Gold/Mining/Energy : Bema(Bgo) and Arizona Star -- Ignore unavailable to you. Want to Upgrade?

To: Jose Kranz who wrote (9764)	12/18/1998 12:18:00 PM
From: Philip Choy	Read Replies (1) \| Respond to of 10482

Look like we finally have the confirmation that we are waiting for from Placer Dome. I decided to buy more AZS as a long term option for gold$400. It may take 2 years for gold to reach u.s.$400, but this option never expire and time is on my side. I am bullish on gold for the following reasons: 1) Demand for gold is believed to be around 3000T/year 2) The resource of many gold mining companies will be depleted in 5 to 10 years 3) Exploration for precious metal has slow down almost to a halt due to lack of funding 4) ECU and Swiss overhanging gold supply would not be a problem once demand picks up and production of gold slow down 5) Average gold price for the past 10 years is about $380. The supply from the gold hoarders may not appear until gold moves over $400. I am looking for gold to recover starting next year. I am betting my money on it. Regards.