South African Gold ProductionGOLD PRODUCERS
South African gold production falls 9.3% in Q2
The year-on-year decline comes on the back of lower production in 2008 as a result of power cuts.
Posted: Tuesday , 08 Sep 2009
JOHANNESBURG (Reuters) -
South Africa's gold output fell 9.3% year-on-year in the second quarter of 2009, despite being measured against lower gold production in the same period last year when output fell due to a power shortage.
Fellow investors it ain't getting any easier to produce gold as indicated by the South African production nums, even with extremely high prices. I continue to think that the big gold producers are going to use their relatively valuable stock prices to start buying some of the radically depressed Jr.s like BTT. After all those gold reserves are getting harder to find and lower in grade. When the stampede for the Jrs. start it will be fast and furious. Hopefully the 43-101 and 5,000 ton bulk sample results are soon forthcoming. As we know the best time for release is fast upon us as we are into the bull market time for both gold and gold stocks.
GLTA