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Gold/Mining/Energy : NORTHGATE EXPL (NGX.TO)
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To: peter snowdon who wrote (9)6/6/2002 12:15:17 PM
From: John Dally  Read Replies (1) of 158
 
I think that the "spot deferred contracts" would have been required for loans, but I would not expect a gold call option short position to be required for a loan. (I haven't tried to find out, so I don't know.)

I think that since we're in a rising gold market, investors will care less and less about cash flow and more and more about the value of reserves in the ground. Companies are now able to overcome cash flow problems through share sales. Therefore, these types of issues are probably fading as investor concerns.

I don't think that NGX is a bad investment, it just surprised me to see that they had such a sizable short term liability.
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