Commentary - 11/01/2008

Who "Controls" Companies Listed In HUI/XAU in 2008?

The following table shows the increase (or decrease) of TOP 10 Major Owners' control over the last three years.
These are not stupid people, so what's the real reason for the dramatic increase in control of these TOP 10 Major Holders?
Perhaps a shark feeding frenzy around an acquisition target?
Even though there's been a tremendous drop in share prices since June 30, 2008.
Your guess is as good as mine.

Maybe this answers questions why mining companies behave in what seems to be against their own self-interests.
They must do what they're told by the folks who control the lion's share; those who perhaps have another agenda!
You might compare these shareholders with those of Goldman Sachs or JP Morgan Chase.

This is information as of 30-Jun-2008, the latest available today.
Each figure is the minimum percentage the TOP 10 Major Holders control in that corporation.
Clicking on the corporate name brings up the breakdown of the TOP 10 Major Holders.

Mining Corporation200820072006
Agnico-Eagle Mines Ltd.46.56%25.41%31.14%
AngloGold Ashanti Ltd29.52%15.21%14.11%
Barrick Gold Corp36.29%36.29%38.34%
Buenaventura23.17%- -- -
Coeur d'Alene Mines Corp.25.37%24.62%19.78%
Eldorado Gold Corp.53.47%28.95%26.27%
Freeport-McMoRan Copper & Gold Inc.35.28%37.18%41.25%
Goldcorp Inc.61.70%20.45%24.46%
Gold Fields Ltd.32.37%16.65%10.61%
Golden Star Resources Ltd.22.04%21.04%19.82%
Harmony Gold Mining Co. Ltd.16.99%15.39%12.17%
Hecla Mining Co.44.48%30.94%32.32%
IAMGOLD Corp.59.99%36.90%32.85%
Kinross Gold Corp.67.78%30.24%32.43%
Newmont Mining Corp.40.04%39.32%35.92%
Pan American Silver Corp30.05%22.34%21.00%
Randgold Resources Ltd. ADS55.00%46.62%47.90%
Royal Gold, Inc.32.79%37.01%37.52%
Silver Standard Resources, Inc.45.17%25.65%- -
Silver Wheaton, Inc.38.92%- -- -
Yamana Gold Inc.44.69%22.73%18.01%

These are the corporations that make up the two indices, as of 30-Jun-2008:
Clicking on the corporate name brings up the breakdown of the TOP 10 Major Holders.
Components of HUI
Components of XAU

2008 by Edward Ulysses Cate
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