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Gold/Mining/Energy : Gold Price Monitor
GDXJ 106.70-0.3%Dec 5 4:00 PM EST
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To: Tom Byron who wrote (12529)6/2/1998 8:24:00 PM
From: goldsnow   of 116796
 
Another interesting comparison between ourselves and those on the other
side of the pond is that we calculate our reserves on a price of
$A450/oz," Normandy Ltd corporate manager Mr Colin Jackson said.

Most North American companies were using a basis of $US350/oz. "So they
are already $60 south right now," Mr Jackson said.

Australian producers were generally hedged up to four years out, with
some substantially further than that, while North Americans that hedged
were generally over just one or two years.

afr.com.au

afr.com.au
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