Vale S.A. and Energy XXI (Bermuda) Limited Under Current Evaluation
Jan. 10, 2010 (Baystreet.ca) --
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Here is a brief excerpt from one of our past newsletters with our story on, "Where the Billionaires Invest":
“While everyone is chasing gold to protect themselves from a falling Dollar, producers aren't keeping up. Gold production was down 3% last year, and it was flat in the most recent quarter. Although mining companies are spending more on new production, especially in China and Russia, that is not enough to offset dwindling output from mature mines. Don't forget that China has drastically increased its gold production outputs making it the largest gold producing country. Aaron Regent, CEO of the world's largest gold producer Barrick, said that global output has been falling by roughly one million ounces a year since the start of the decade.....”
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