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Gold/Mining/Energy : Gold Price Monitor
GDXJ 105.33+5.2%Nov 26 4:00 PM EST
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To: LLCF who wrote (53844)6/6/2000 2:40:00 PM
From: goldsheet  Read Replies (2) of 116772
 
> But when did they sell those? are they hedging 2, 3, and 4 years out?? That's what I would worry about.

They sold the 2000 and 2001 forwards (total=7.4mz) several years ago,
and bought the 6.8 million calls earlier this year.

The rest of their book (thousand ounces) is:

Forward 2002 2003 2004 2005 2006+
ounces 1800 900 900 500 2100
price 360 360 360 361 366

Calls Sold 2002 2003 2004 2005 2006+
ounces 100 300 450 400 1450
price 340 382 355 358 365
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