GEOMAQUE Message Board - Msg: 12654275

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Gold/Mining/Energy : GEOMAQUE

GEO 15.05

+1.2%

Nov 21 4:00 PM EST

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To: Claude Cormier who wrote (114)	1/23/2000 8:58:00 PM
From: baystock	of 260

CC, thanks. This is just what I was looking for. <<In response to recent developments in the gold market, Geomaque is providing additional disclosure of its hedge position. As at June 30, 1999, the Company recorded deferred hedging gains of US$1.9 million by closing out a substantial portion of its hedge position. Additional hedges were closed out in the third quarter. The Company?s remaining hedge position consists of spot deferred contracts covering 10,000 ounces at US$290 per ounce, calls on 21,000 ounces at US$323 per ounce over a period of 15 months, and calls on 20,000 ounces at $388 per ounce over a period of five months. >>

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