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golden times for small miners

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    Monday, 21/12/2009

    Small mining companies are making the most of the record high gold price, by quickly opening up mines across the country.

    Atom Energy has announced plans to start mining at it's Kalgoorlie North project, 50-kilometres out of the West

    Australian mining town.

    Atom's Jon Price says the demand for gold will remain strong for years to come.

    He believes the gold price could go as high $1600 an ounce.

    "We're cognoscenti that the gold price could go up and the gold price could come down," he says.

    "So when we work with these projects we would use a price of around $900 to run our economics."

    "If the gold price goes up the margin is higher. If the gold price goes down we've still got an economic business."

    Gold is currently trading around $1150 an ounce.
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