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Gold/Mining/Energy : Gold Price Monitor

GDXJ 119.96

+2.0%

Dec 22 4:00 PM EST

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To: Enigma who wrote (56056)	7/11/2000 7:15:26 PM
From: pater tenebrarum	Read Replies (1) of 116820

sure...and the Financial Mail of South Africa recently reported the every single SA hedge book save that of Anglo is under water. so what was financially prudent about that? you still don't realize that in a cyclical industry like gold mining, you go with the flow...you make money in upswings, you lose some in downturns. you try to make more than you lose and pay as much as possible out to shareholders. but to engage in a practice that suppresses the price of your product, and robs you of any upside participation to boot, and locking in prices below the replacement costs for your product is plain and simple nonsense, or rather financial suicide.

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