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Gold/Mining/Energy : Kinross Gold

KGC 24.34

+2.4%

Nov 7 9:30 AM EST

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To: Baba 2 who wrote (345)	10/1/1999 12:29:00 PM
From: Fuller	Read Replies (1) of 530

From National post Friday 1 Oct. and my memory Producers ( Barrack , Newmont, Placer Dome, Etc ) borrow gold from central banks at low rates ( used to be 1-2 % peaked Tuesday at 11.5% ). Estimates of gold on loan range between 4500 tonnes and 13000 tones. Barrick was hedged 100 % I believe the CEO said on CNBC . The average price they were recieving was something like $ 380. Which means they must have hedged most at 8 years. Newmont was hedged 66% They just hedged one month ago. Kinross was hedged ? 900,000 oz hedged at between $300 and $323 for up to 6 years. ( it sounds like most of it at shorter # of years)

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