The North American Gold Mines: Operating Costs

Good morning, ladies and gentlemen: It is a pleasure to be here this morning as a representative of Dean Witter Reynolds; one of the foremost international investment firms in North America. My colleague, Hugh Wilmer (who will be speaking to you a little later), and I are involved as research analysts in the research and writing of published reports containing recommendations on the buying or selling of North American and South African gold and silver mining shares. Our talk this morning will focus on the gold mining operating costs of North American and South African gold producers. However, I am not going to bore you with reams of statistics on the operating costs of large numbers of gold mining operations; how meaningful would this data be to you? Instead, I will discuss what the investor should look for, and how he should use this knowledge in making his investment decision.