After getting burnt pretty bad by ASL, I've been interested
in ONLY unhedged gold stocks. So far, the only ones found
are AEM, HGMCY, RGLD and TSE:FN.
HGMCY Harmony Gold Mining - from the Chairman's statement
in the annual reports: harmony.co.za
"The company?s cost of production is well below any reasonable prediction for a gold price low. Harmony?s
unhedged position ensures that its shareholders will
benefit from any increase in the gold price."
FN.TO Franco Nevada - from the Toronto Globe and Mail
10/7/99 "Franco-Nevada Mining Corp. Ltd. and Viceroy Resource Corp. have not hedged any gold production.
Incorrect information was published yesterday.
(Thursday, October 7, 1999, Page B2)"
AEM Agnico-Eagle from the President's message at
agnico-eagle.com
"Growing reserves and production with excellent
exploration potential; Low-cost operations with sharply
declining production costs; Strong financial position
with good access to additional capital; Experienced,
proven management and a committed work force; Excellent leverage to rising gold prices, as none of our future
gold production has been sold forward. "
RGLD: wrote them at info@royalgold.com and the VP responded
that they are unhedged.
Everyone, please share your research on unhedged stocks.
diana |
