BRE-X, Indonesia, Ashanti Goldfields, Strong Companies. Message Board

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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.

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To: IngotWeTrust who wrote (25734)	6/25/1997 11:01:00 AM
From: strenlich	of 28369

ole 49r or anyone-Off Topic: Can you please explain to me what a Gold Hedge "Facility" is and how it would be used? "Standard has agreed to provide to Claimstaker's wholly owned subsidiary Equinox Resources (Calif.) Inc., a 2 1/2 year, US$ 2.3 million secured Gold Loan and a 28,000 ounce Gold Hedging Facility at an annual interest rate of 3 percent above US$ Libor or the Gold Base Rate, as the case may be." I gather that when concentrates are refined, one has the option of taking it in "kind" rather than having the refinery sell it.Would a "facility" be for storage? Also if it is taken in "kind" is it taxable before it is sold? Also what is US $ Libor?? TIA-strenlich

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