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Gold/Mining/Energy : Gold and Silver Mining Stocks

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To: Zardoz who wrote (316)	6/7/2000 8:22:00 PM
From: russwinter	Read Replies (1) of 4051

So you're saying that the forward (or spot deferred contract)is a permanent without close out provisions, or that has penalty provisions (perhaps similar to early payoff of a commercial loan)? If so, any idea how much? If your point is true, than these companies are in worse shape than even I suspected. What happens if there is a major production falloff? How about a force majeure? Or even something as basic as a new price for the product? What a crazy way to conduct business in an industry as uncertain as mining. Why couldn't you buy a standard future back? You sell (short) and pick your cover price (go long). If the price is lower you profit. I don't understand your point?

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