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Gold/Mining/Energy : TVX Gold
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To: russwinter who wrote (793)3/28/2001 2:18:06 PM
From: marek_wojna   of 905
 
The other short term problem for TVX is present POG in the range of $250 - $270 which I expect to hold for another two months with one or two bounces. This will be a bleeding for companies like TVX, because they cannot hold the short term gains like the big one. Right now mutuals are disposing TVX.
Their hedge books are bigger too as percentage to the reserves compare to let say Kinross. Bema is unhedged and keeping better share value with much less cash on hand.
If the CB's will play the game as I expect any company with hedge too exposed will fall victims, and there is many of them. One stroke of CB's and they'll achieve more than anybody can predict.
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