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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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To: Ron Everest who wrote (398)	6/13/1999 3:33:00 PM
From: Wade	Read Replies (1) of 48092

Ron, I do not know exactly how much gold was really sold forward. But, I do know some of the very large S. A. gold mines sold some thing like 10 years worth of production forward. I am not surprised if that figure is 10 times of ABX's hedging. ABX should not take the blame, imho. Therefore, if the figure is 3,000 to 10,000 ton sold forward, then we have a figure contributed from the mining companies close to this estimation. However, this estimation is far from accurate and should not be used to support argument and speculation. My new question becomes "How much gold was really sold forward besides those promised by the mining companies?" May be not much. I have another question to ask: "Were we led to believe POG will rocket by short squeezing?" I have heard this story for years. How many percentage of this is fact, and how many percentage of this is promotions by gold mining companies? Without these answers I felt like a cattle in a slaughter house. We all can see the central banks acted completely different from what we have been thinking or believing in. Those people are no idiots, they are the real insiders. Why were we so wrong for so long? Is this time really just temporary? Is it? There are so many web sites promote their theories where POG is moving at. Do they really make a living by promoting or trading gold? Who are their financial sponsors? Do they have to disclose it in public? I can not make wise decisions based on what I have read from internet any more. I will keep a much smaller exposure in gold from now on. This industry is not easy to mess with. This is just MHO. Sincerely, Wade

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