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Gold/Mining/Energy : Stillwater Mining , SWC (former PGMS)
SWC 18.000.0%May 12 5:00 PM EST

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To: Sunny Jim who wrote (1063)1/27/2000 1:32:00 PM
From: Bob Howarth  Read Replies (1) of 1336
 
On CC they said 55,000 ounces palladium, that they sold call options on, no way near 40%, and they do NOT plan any more hedging. No problem with margin calls possible since this is a "cash flow" hedge. I was not clear on what this meant unless they have the option of simply supplying the metal, which is what I think they mean.

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