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Gold/Mining/Energy : Gold and Silver Mining Stocks
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To: goldsheet who wrote (328)6/8/2000 11:41:00 AM
From: russwinter  Read Replies (1) of 4051
 
Question about the unhedged, reasonable cost producers was not limited to Australia. Clearly these Aussies should be watched for a major unwinding of the long puts in particular. The investor response (rerating)might be pretty positive. Agree that they may be a target for a company willing to unwind the position to free up the cash committed, and create a call on the reserves. In fact that seems like a great strategy and might signal a sea change in gold production philosophy Down Under. But, until then they look like a mess, certainly poorly positioned for a POG rally.

Seperately, I wonder if the counterparties could write out the check if several of these Aussies showed up at the window at the same time?
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