Kam,
voici peut-ˆtre la raison pourquoi la valeur des prix des compagnies d'or ont baiss‚ hier malgr‚ la hausse du prix de l'or
Gold news - Explains why the Gold producers may not be doing as well as gold
Globe says Ashanti, Cambior hedging backfires
Cambior Inc
CBJ
Shares issued 72,890,161
1999-10-05 close $4.74
Wednesday Oct 6 1999
See Ashanti Goldfields Co Ltd (AHD.U) In the News
The Globe and Mail reports in its Wednesday, Oct. 6, edition that the price of
gold soared yesterday, but investors in Canada's gold mining companies ignored
that action -- apparently because of fears that the hedging strategies of some
producers have backfired. The Globe's Allan Robinson writes that Ashanti
Goldfields disclosed yesterday that its hedging strategy has resulted in it being
caught in a gold squeeze that could cost it millions of dollars. However, the
troubles some gold producers find themselves in, while serious, could pale in
comparison to similar problems rumoured to be facing hedge funds and certain
central banks with extensive dealings in bullion. Ashanti says because of the runup
in the price of gold, some of the banks it had borrowed gold from were entitled to
make margin calls, which are demands for cash or securities held by the company.
Ashanti shares tumbled $3.87 (U.S.) to close at $5.50 on the New York Stock
Exchange. Cambior shares dropped $1.06 (Canadian) to $4.74 on concerns that
it might face liabilities on its hedge position. The shares of Barrick Gold fell $2.35
to $32.90 and the shares of Placer Dome declined 55 cents to $23.7
Christian |
