Gold in the NewsSome good stuff in today's National Post for all of us gold followers out there.
Page C3 on the outlook for gold in general: "I think 2001 will be far more positive than 2000." (That's not hard!)
Page D6 on Placer and increased spending on R&D instead of exploration:
"With nearly US$400 million in cash and nearly US$500 million in its hedge book, Placer Dome is ready to consider more acquisitions or major exploration projects but, Mr Taylor [CEO] said, not much of what is available is attractive.
'Those large deposits that are undeveloped are undeveloped for good reason', he said."
Dolores must be one of the more interesting projects out there (I said this also about GAM's Ocampo) - (and, as I wonder about Ocampo) I wonder if the overall size of the deposit is enough to interest the really big companies. They seem to be looking more for 9-10-11 million ounce + deposits. Placer CEO Taylor suggests it doesn't make sense to find more gold in these market conditions . . .
Let's get gold up over $300 and everything should loosen up a bit.