australian gold price, page-2

but the boom might have run out, before gda get to develop all of their great prospects

A prominent resources analyst has warned Western Australia's mining boom has come to an end.



Tim Treadgold says the state's resource companies will suffer over the next six to 12 months because of a grim set of circumstances created by the global financial crisis.



Mr Treadgold predicts profits will fall as base metal prices continue to drop and says there will not be a quick recovery.



"If you're a gold mine and in production and your costs aren't too high you'll probably do very well because the gold price is looking pretty healthy," he said.



"If, however, you're anyone trying to develop a new mine and you haven't yet got the money in place you are in deep trouble. You won't be able to raise the money from the stock market which has fallen very flat and you won't be able get any debt from banks because banks have stopped lending."