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Strategies & Market Trends : games trader group

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To: John Paquet who wrote (153)	10/9/1999 10:50:00 AM
From: LaFayette555	Read Replies (2) of 507

Dig this : Ghana's Ashanti Goldfields Co Ltd (AGC) has been the highest profile casualty of gold's reversal so far, declaring a mark-to-market loss on its hedges of $450 million and merger talks with Ashanti stakeholder Lonmin Plc (quote from Yahoo! UK & Ireland: LMI.L). Ashanti's banking counterparties with the right to margin call payments have agreed a temporary stand off with the miner but may not hold off forever. ''If any of these banks do run for cover we will get an explosion in the price, which could go up to $370 or $380,'' the same dealer said.

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