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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Ken Benes who wrote (58843)	9/25/2000 1:34:59 PM
From: lorne	Read Replies (1) of 116759

South African golds forced into more hedging. " The gold market was reminded last week of the serious damage created by last year's hedge book melt-down. First Ashanti Goldfields announced a delay in the sale of a stake in its Geita gold mine to AngloGold. According to an Ashanti spokesperson this was owing to the 20 or so counter-parties with whom the Ghanaian company has a number of gold derivative contracts. "All these parties have to be consulted and it has taken much longer than expected," the spokesman said. In effect, Ashanti has lost its independence and is being controlled by its bankers." Full story >>> mips1.net

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