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Gold/Mining/Energy : BLACK HAWK (TSE:BHK)

BHK 9.560

+0.2%

Dec 3 4:00 PM EST

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To: robin hood who wrote (323)	10/15/1999 12:31:00 PM
From: Stephen O	Read Replies (2) of 545

People are scared shitless by any company that has hedged their gold production. BHK has hedged the bal of 1999 and all their production for next 2 years with call options averaging at $276 and $273. They are negotiating with their writers of the options about margin requirements. I would expect a news release when that is done. Ron Struthers in his newsletter has now advocated selling BHK based on him discovering this hedging. What he forgets is that their other 3,400,000 oz of unhedged resource has just increased in gross metal value by $136 million US or about $1.60 per share Cdn

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