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Gold/Mining/Energy : Gold Price Monitor

GDXJ 124.11

-13.6%

Jan 30 4:00 PM EST

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To: goldsnow who wrote (42817)	10/12/1999 9:56:00 PM
From: lorne	Read Replies (1) of 116950

Gold hedging must be more transparent Posted: 1999/10/12 01:31 PM GMT+2 ......." But there are many more large-scale mining bears hiding in their caves. With the exception of the few SA gold miners, notably Gold Fields and Harmony, no-one is sure about the extent of liabilities of any company with disclosed or undisclosed hedge positions. Since hedging is carried out through complex derivatives, notably futures and options, leasing arrangements and generally incomprehensible banking "insurance" schemes, a large proportion of the transactions are off balance sheet. Company reports only hint about the potential liabilities. They are probably much bigger."...... Full story >>>>>> 196.36.119.130

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