To:Salvador Villavieja who wrote (222) From: John Barendrecht Sunday, Jul 6, 1997 3:48 PM Respond to of 80032
<<comments on the line 'Analysts expect the gold price to fall as low as US$250 per ounce'>> I think the best comment was in the article itself:
<<Australian producers have emerged as the world's most expensive producers with average costs of $US294 an ounce.
"If they don't reduce costs, they'll run out of capital and if the share market isn't supportive then it's over," Mr Macdonald said.>>
In other words, now that Australia has sold 2/3 of its gold, it will have to subsidize its gold industry or their share price will nosedive and then the rest of the market might follow. It seems like the only thing to do is raise taxes to subsidize the gold mining industry or buy gold to stabilize the gold price. http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=1710628
To:long-gone who wrote (227) From: John Barendrecht Sunday, Jul 6, 1997 4:00 PM Respond to of 80032
Hi Richard: <<Who are these 'Analysts',& what do they have to gain by their "Doom & Gloom" scenario?'>> Wonder if these are the same analyst who said Busang had 70 million ounces and could go as high as 200 million ounces? http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=1710656
To:William Jones who wrote (231) From: Bearcatbob Sunday, Jul 6, 1997 5:08 PM Respond to of 80032
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