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Gold/Mining/Energy : ECU Silver Mining Inc -- Ignore unavailable to you. Want to Upgrade?

To: Baba 2 who wrote (417)	6/5/1999 1:59:00 PM
From: Claude Cormier	Read Replies (1) \| Respond to of 672

Baba2, Well keep in mind that if a miner has no doubt...he can wait on a low budget as long as needed for the crisis to be over. Of course, the GRE and company may be gone by then... but these are only the minority IMO. <<ABX, with their strategy of destroying the gold market >> Are you saying that all miners who hedge their production are the bandits. I disagree, Me think it is the bullion banks who borrow and sell the gold. The miners are not in this business, all they do is getting into spot deferred contracts and a little long term call writing. As such, spot deferred should not affect the gold prices if the merchang banker who is on the other side of the contract would not dump immediately the gold on the market but rather wait till delivery. We can find some comfort in the fact that all this action by the banks will eventually have a reverse effect and help make of the next bull market the biggest one in history.