Exall Resources/Glimmer Resources Message Board

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Gold/Mining/Energy : Exall Resources/Glimmer Resources

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To: James N. Wilson who wrote (1119)	2/5/2000 8:55:00 AM
From: Winzer	Read Replies (1) of 1319

James, Yet another money losing rally for G/E shareholders? What Placer did do this week was to announce their plan to get out of the hedge business. Once Barrick imitates them, this would put the squeeze of the bullion bankers (look for Goldman Sachs by name) to cover, because the original reason for the "gold is dead as an investment cry" was that the CB's were dishoarding and the producers were hedging. Once the producers have had a chance to see what hedging did to Ashanti and Cambior, I think that they have concluded that they want no part of it. An excellent summary of the whole quagmire is attached. It is a good read. I think that it is positive, and puts it all into perspective (for me anyway). Message 12784210 Winzer

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