PDA

View Full Version : Miners freeze spending



Gino
31st October 2008, 21:01
Well, this has to be bullish for commodities and especially Silver. . .

Mining industry freezes capital expenditure (http://www.theaustralian.news.com.au/business/story/0,28124,24583129-643,00.html)


Analysts say $US50 billion ($75 billion) in planned expenditure is at risk of being delayed next year, as miners bunker down to survive the global financial turmoil.

The last time the mining industry froze capital expenditure, in 1998, it took five years for it to return with any confidence.

No growth in supply, booming investment demand, I guess we'll have to see what happens to industrial consumption. My guess is that the development of China and India will see that industrial demand stay solid, in which case it is the right time to be owning Silver, becausing buying it will only get more difficult.

LETMYSILVERGO
31st October 2008, 21:52
Holy Kink In The Silver Pipeline Batman!!!!!!!!!!!!!!!! #%pow@#&
Take That Evil Silver Short Shorter!! *&$whack#@!)(** Slam!!!&%$#%

One_of_Many
31st October 2008, 22:24
"It will take commodities to reach new highs before chief executives will have the gumption to go back into the market," Mr Gray said.

'Mr Gray said this could plant the seeds for the next bull market, especially given that the recent five-year bull market did not see large-scale capacity additions, with the exception of iron ore.

Most of the growth planned was scheduled for 2010 and beyond, which was now increasingly unlikely.'

gosh.... do ya think this could affect the price? :rolleyes: