S Africa Anglogold's hedge position 10 tons lower in Q4
Johannesburg--Feb 10--Anglogold, South Africa's largest gold producer, said
on Thursday that its net hedge position of 418,042 kilograms priced forward at
the end of 1999 was some 10 tons lower than at the end of the September quarter.
Angologold said in a statement that this year it intends to continue to deliver
into its hedge, and this is likely to mean lower levels of hedge cover going
forward. (Story .11596)
S Africa AngloGold worried about some gold cos' hedge positions
Johannesburg--Feb 10--AngloGold, South Africa's largest gold producer, said
on Thursday that while the gold lending market has returned to stability, there
remained concern about those gold mining
companies with credit difficulties brought about by the nature or size of their
hedge positions. AngloGold said in a statement released with its December
quarter results that the nature of these difficulties has provided important
lessons for participants in the gold forward markets, and have caused many gold
mining companies to consider the nature and appropriateness of their gold price
hedge positions. (Story .11219)
Homestake may hedge to finance Veladero, Argentina, project
New York--Feb 9--Homestake Mining Co. may engage in some hedging to finance
development of its 60%-owned Veladero property in Argentina, but is not
expecting any major change in its gold hedging strategy. Describing Homestake's
hedge book as a "rounding error" in comparison t
o the size of some of its competitor's book, CEO Jack Thompson said that it will
remain "lightly hedged." (Story .19650)
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