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  • bogfit bogfit May 17, 2012 8:37 PM Flag

    Sewell, what's your opinion.


    Naturally if you consider a nation as "marginal jurisdictions" you wouldn't want to mine there, but that wasn't quite what I wanted to know. It makes sense to me, and is something I consider always. But the question about "polymetallic miners" is difficult for me to understand. If a ore is worth digging out for it's gold, then the copper is just extra. Now I realize that the copper will show up as a cash cow in good times, but you need to understand that THAT copper will be the ONLY copper for sale. What that means is that although the contribution from copper to the bottom line will be smaller in hard times, it will still be additional income for the company. The strict copper mines will lay off and go on C&M. The marginal performing mines will shut down, and the copper that is sold will be from gold mines. So what price do you think it would take for copper to fall to shut down the giant copper mines in Chile, because that is what Goldcorp will get for theirs. If it's half of last years price, the loss of revenue to a gold giant like Goldcorp. is still less important than the 25% undervalued price I think the stock is worth today.

    Quite frankly I don't see things getting as bad as you fear for a much longer time span than that I will be owning the Goldcorp. I just thought it was a great opportunity to take advantage of those idiots who through their shares away for a drop in production from a non-accident circumstance. How stupid! Hard rock mining ain't like running a factory in China making widgets. Market share ain't our biggest concern, and if you fear unrest then those who dig gold from the ground will be protected as never before. No one wants the mining to stop. Everybody wants that gold to come up.


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