Find all School-related info fast with the new School-Specific MBA Forum

It is currently 30 Aug 2016, 16:29
GMAT Club Tests

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

The goal of mining companies is to discover the richest,

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

1 KUDOS received
Senior Manager
Senior Manager
avatar
Joined: 23 May 2006
Posts: 326
Followers: 2

Kudos [?]: 248 [1] , given: 0

The goal of mining companies is to discover the richest, [#permalink]

Show Tags

New post 05 Aug 2008, 23:03
1
This post received
KUDOS
1
This post was
BOOKMARKED
00:00
A
B
C
D
E

Difficulty:

(N/A)

Question Stats:

80% (01:00) correct 20% (03:19) wrong based on 16 sessions

HideShow timer Statistics

1. The goal of mining companies is to discover the richest, most accessible sources of the ore they mine. Their success in reaching this goal, however, is not the sole factor determining the financial success of failure of a particular company. Profits for mining companies are largely dependent on prices determined by the global supply of a given ore, not the amount of the ore supplied by any one company.

Which of the following inferences about mining companies is best supported by the information above?

(A) Discovery of a new source of ore could result in a financial loss for some mining companies.

(B) Mining companies should not invest in locating new sources of ore.

(C) Mining companies are consistently profitable as long as global supplies remain stable.

(D) Mining companies need to offset fluctuations in global supply by discovering new sources of ore.

(E) Mining companies cannot be profitable if the global supply of ore they mine increases.
Senior Manager
Senior Manager
avatar
Joined: 19 Apr 2008
Posts: 320
Followers: 3

Kudos [?]: 70 [0], given: 0

Re: CR: Mining Company (good CR) [#permalink]

Show Tags

New post 05 Aug 2008, 23:45
I go for E .
Current Student
User avatar
Joined: 18 Jun 2008
Posts: 228
Followers: 2

Kudos [?]: 57 [0], given: 3

Re: CR: Mining Company (good CR) [#permalink]

Show Tags

New post 05 Aug 2008, 23:56
answer should be A
Intern
Intern
User avatar
Joined: 22 Jul 2008
Posts: 43
Followers: 1

Kudos [?]: 7 [0], given: 0

Re: CR: Mining Company (good CR) [#permalink]

Show Tags

New post 06 Aug 2008, 00:10
x97agarwal wrote:
1. The goal of mining companies is to discover the richest, most accessible sources of the ore they mine. Their success in reaching this goal, however, is not the sole factor determining the financial success of failure of a particular company. Profits for mining companies are largely dependent on prices determined by the global supply of a given ore, not the amount of the ore supplied by any one company.

Which of the following inferences about mining companies is best supported by the information above?

(A) Discovery of a new source of ore could result in a financial loss for some mining companies.

(B) Mining companies should not invest in locating new sources of ore.

(C) Mining companies are consistently profitable as long as global supplies remain stable.

(D) Mining companies need to offset fluctuations in global supply by discovering new sources of ore.

(E) Mining companies cannot be profitable if the global supply of ore they mine increases.


I would go with (D) simply because the question says that to search for new ore could be 1 of the factor for financial success,So when the market is down then they can use this to offset the fluctuation.There needs to be some significance of the discovery of ore
_________________

Nik...
Score Big
time is Less WORK is more

Director
Director
avatar
Joined: 27 May 2008
Posts: 549
Followers: 8

Kudos [?]: 283 [0], given: 0

Re: CR: Mining Company (good CR) [#permalink]

Show Tags

New post 06 Aug 2008, 06:04
good question. IMO A

B - extreme
C - no mentions of stability of global supply
D - goes against the argument... even if they find new sources .. there is no gurantee of financial sucess
E - qutes says the finding of new sources is not the sole factor... they can still make a profit due to other factors.....
Director
Director
User avatar
Joined: 25 Oct 2006
Posts: 648
Followers: 10

Kudos [?]: 431 [0], given: 6

Re: CR: Mining Company (good CR) [#permalink]

Show Tags

New post 06 Aug 2008, 07:44
IMO E
(A) Discovery of a new source of ore could result in a financial loss for some mining companies.
-- How discovery results financial loss? Financial success solely depends on profitability and global supply.

(B) Mining companies should not invest in locating new sources of ore.
-- Too extreme

(C) Mining companies are consistently profitable as long as global supplies remain stable.
-- profit depends on the price of global supply NOT just on the supply

(D) Mining companies need to offset fluctuations in global supply by discovering new sources of ore.
-- New source never offsets profit, as mentioned in stem
(E) Mining companies cannot be profitable if the global supply of ore they mine increases.
-- here we can say that profitability is not depending on the supply they mine.
_________________

If You're Not Living On The Edge, You're Taking Up Too Much Space

Senior Manager
Senior Manager
avatar
Joined: 06 Apr 2008
Posts: 449
Followers: 1

Kudos [?]: 125 [0], given: 1

Re: CR: Mining Company (good CR) [#permalink]

Show Tags

New post 06 Aug 2008, 07:52
x97agarwal wrote:
1. The goal of mining companies is to discover the richest, most accessible sources of the ore they mine. Their success in reaching this goal, however, is not the sole factor determining the financial success of failure of a particular company. Profits for mining companies are largely dependent on prices determined by the global supply of a given ore, not the amount of the ore supplied by any one company.

Which of the following inferences about mining companies is best supported by the information above?

(A) Discovery of a new source of ore could result in a financial loss for some mining companies.

(B) Mining companies should not invest in locating new sources of ore.

(C) Mining companies are consistently profitable as long as global supplies remain stable.

(D) Mining companies need to offset fluctuations in global supply by discovering new sources of ore.

(E) Mining companies cannot be profitable if the global supply of ore they mine increases.


Between A) and E) I will chose E)
Current Student
User avatar
Joined: 18 Jun 2008
Posts: 228
Followers: 2

Kudos [?]: 57 [0], given: 3

Re: CR: Mining Company (good CR) [#permalink]

Show Tags

New post 06 Aug 2008, 09:12
Since it seems most people are stuck between A & E, I explain further why the answer is A), and why E is incorrect
nmohindru wrote:
x97agarwal wrote:
1. The goal of mining companies is to discover the richest, most accessible sources of the ore they mine. Their success in reaching this goal, however, is not the sole factor determining the financial success of failure of a particular company. Profits for mining companies are largely dependent on prices determined by the global supply of a given ore, not the amount of the ore supplied by any one company.

Which of the following inferences about mining companies is best supported by the information above?

(A) Discovery of a new source of ore could result in a financial loss for some mining companies.
definitely supported - the key word is 'for SOME mining companies'. discovery of a new source of ore by 1 company will increase global supply => leading to POTENTIAL financial loss for some mining companies
(B) Mining companies should not invest in locating new sources of ore.

(C) Mining companies are consistently profitable as long as global supplies remain stable.

(D) Mining companies need to offset fluctuations in global supply by discovering new sources of ore.

(E) Mining companies cannot be profitable if the global supply of ore they mine increases.
the key here is 'cannot be' - this is an absolute statement, 1 counter case can prove this false.

mining companies Can be profitable if the global supply of ore they mine increases as long as either 1) the demand also increases or 2) their supply increase out grows the global supply increase.

Therefore this statement cannot be the answer


Between A) and E) I will chose E)
Senior Manager
Senior Manager
avatar
Joined: 23 May 2006
Posts: 326
Followers: 2

Kudos [?]: 248 [0], given: 0

Re: CR: Mining Company (good CR) [#permalink]

Show Tags

New post 06 Aug 2008, 10:50
OA is A.

Good explanation JasonC
GMAT Club Legend
GMAT Club Legend
User avatar
Joined: 01 Oct 2013
Posts: 9316
Followers: 807

Kudos [?]: 165 [0], given: 0

Premium Member
Re: The goal of mining companies is to discover the richest, [#permalink]

Show Tags

New post 30 Jul 2016, 05:38
Hello from the GMAT Club VerbalBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
Re: The goal of mining companies is to discover the richest,   [#permalink] 30 Jul 2016, 05:38
    Similar topics Author Replies Last post
Similar
Topics:
10 Experts publish their posts in the topic Canadian mining company Bre-X GMATPill 8 26 Aug 2013, 18:45
Statement of a United States copper mining company: Import lordw 4 04 Aug 2008, 11:29
5 Statement of a United States copper mining company: Import mymba99 7 07 May 2008, 10:58
Statement of a United States copper mining company: Import financeguy 5 06 Aug 2007, 05:25
Statement of a United States copper mining company: Import punnu_mba 6 18 Sep 2006, 12:15
Display posts from previous: Sort by

The goal of mining companies is to discover the richest,

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.