BLACK HAWK (TSE:BHK) Message Board

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

BHK 9.650

-1.1%

Nov 13 4:00 PM EST

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To: baystock who wrote (363)	1/12/2000 5:51:00 PM
From: gilbert leblanc	Read Replies (2) of 545

This is not good at all. If the POG goes down or stays the same this company will not do any better than it is now. If the POG explodes up in price they may go under because of their hedge position. So overall not a very attractive risk reward position. Never forget one thing, if BHK reduce the cash cost at El Lemon mine, they will do better if the price of gold stay at this level. If the POG go down, they could do better. If the price for example go below the price of their putt position, they are in a winning position. What's more, BHK didn't sell naked calls in the way CAMBIOR did. BHK had only calls on their projected production for the next 3 years. In fact, is is not all their production who is cover but approximatly 80%. Yours truly, Gilbert Leblanc

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