Birim Goldfields Inc. (BGI-T) Message Board

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Gold/Mining/Energy : Birim Goldfields Inc. (BGI-T)

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To: Winzer who wrote (380)	10/27/1999 7:48:00 AM
From: Winzer	Read Replies (1) of 922

Some more reason to be optimistic. Taken from GATA: <<There are many "in the knows" that believe this gold sell off is totally Ashanti related. Here is what we are told. The Ashanti hedge book is even much worse than most realize. The Ashanti management was fed the line by the bullion dealers that the price of gold was not going up for a long time to come. The result: Ashanti's hedge book is full of "Fancy Dan" structured deal hedge programs. Word is that the company may be carved up with various gold producers taking over certain mines. To sweeten the deal, the "Hannibal Cannibal" bullion dealers are buying calls for Ashanti on this price break. This will reduce some of the upside exposure that producers will face when they take on Ashanti's hedge book and juices up the deal for them to step up to the plate here. I find it of interest that Barrick CEO, Randall Oliphant, was seen last night having dinner with Ashanti Chairman, Sam Jonah, at a posh London restaurant.... Many in our camp think that the gold price will go right back up after the Ashanti situation is resolved. Some of my sources believe that Goldman Sachs, knowing its rigging days are coming to an end, are going to reverse and get on the long side. They know what WAS DONE to bring the gold price down and they know that effort cannot be sustained. Keep the Faith Bill Murphy, Chairman Gold Anti Trust Action (GATA) gata.org Le Patron, Le Metropole Cafe lemetropolecafe.com Winzer

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