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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.06

-1.4%

4:00 PM EST

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To: Robert Dirks who wrote (44019)	10/27/1999 12:27:00 PM
From: lorne	Read Replies (1) of 116762

Hi Robert. ...." BATTLE MOUNTAIN just F'ed their shareholders. Watch the stock Slide again Today........" I am assuming that Battle Mountain was at the Denver conference and would be aware of all the anti hedge talk that was supposed to be going on. I also assume they would be privy to talk amongst producers that we would not hear if so why would they hedge at this time if they were not totally convinced the gold was heading down?? What do they know that we don't know. Or maybe there completely stupid. Seems like a lot of producers wont be in business if POG goes up?? Battle Mountain hedged 300,000 oz of gold over next 4 years New York--Oct 26--Battle Mountain Gold Co. said it has taken advantage of the rising market to hedge a total of 300,000 ounces of production for delivery over the next 4 years, or about 19,000 ounces per quarter. As well as part of its 90-day gold sales program, the firm could be required to deliver 15,000 ounces of gold in the fourth quarter of this year at $320 an ounce. (Story .24385)

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