Until 2004 the Al-Rafiqs depended primarily on breeding-stock sales and processing and selling yarn and fiber for revenue.

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Historically gold companies calculated total cash costs per ounce by including only mining, processing, selling and royalty costs, said Imaru Casanova, senior gold analyst and investment team member of the Van Eck International Investors Gold Fund (INIVX) and the Van Eck Global Hard Assets Fund (GHAAX).

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This was democracy: producers running everything themselves, the selling, the processing and, most of all, the marketing.

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An Iona College English major who got a master's in business administration from New York University at night, Greifeld spent much of his career selling computer systems for processing and clearing trades.

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Starting in 1993 they began selling off non-core holdings, including a food processing business, an investment bank and a hotel.

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