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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: patron_anejo_por_favor who wrote (29633)10/18/2000 8:34:17 PM
From: pater tenebrarum  Read Replies (2) of 436258
 
i just checked GOLD's latest hedge position...something i do as a matter of course every few weeks. now, since the co. is an avowed non-hedger, this may seem unnecessary, but better safe than sorry, eh? after all, their hedging policies include project- and loan specific hedging, as well as an out for management should it ever wish to reconsider the current policy( " Deviations from this policy may occur from time to time depending on management's view of fundamental changes
in the gold market..").

now guess what i find....they are LONG calls on 430,000 oz. , outstripping the handful of calls sold by their Beatrix mine by roughly 100k oz. for this financial year....

needless to say, this is an exceedingly happy state of affairs...
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