To:Arge who wrote (310)
From: John Barendrecht Tuesday, Jul 8, 1997 11:17 AM
Respond to of 80033
London silver fixed at lowest since November 1993
LONDON, July 8 (Reuter) - Silver fixed at 425.00 cents per ounce on Tuesday, its lowest level since November 3, 1993.
On Monday at its official fixing, silver was valued at 447.35 cents.
To:mikesloan who wrote (308)
From: John Barendrecht Tuesday, Jul 8, 1997 11:18 AM
Respond to of 80033
Gold plunge cuts ground from under Australia miners
By Michael Stapleton
MELBOURNE, July 8 (Reuter) - Australia's gold miners are facing a crisis as grave as any in living memory as they struggle to live with the effects of a slump in the price of the yellow metal.
Analysts estimate up to 55 percent of the gold mined in Australia is produced at a total cost above the current market price -- a situation that will soon start to take its toll.
``Small, high-cost producers are the ones that are going to go to the wall first and that's going to happen pretty fast,''
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