Down under Gold Gossip,
Le Metropole Members,
MINI MIDAS
Bloomberg Oct 31 Sydney:
"Centaur Mining and Exploration (of Australia)
warned the financial market on its hedging costs
on 31 October 2000. Centaur said it was not generating sufficient revenue to meet negative monthly
outflow linked to its metal and currency
hedge position."
"Newcrest Mining Ltd. led the market down, failing
16.5 cents, or 4.2 percent, A$3.80. The stock
posted its biggest intra-day decline in six months,
falling as much as 6.7 percent to A$.3.70 after
analysts said Australia's No. 2 gold miner's
currency and copper hedging positions will hurt
earnings."
It was two to three weeks ago that Midas put this
news out to Café members. A Newcrest executive took
me to task for what he thought I misrepresented.
Since the Midas commentary, the share prices of
Centaur and Newcrest have tanked even though
the Aussie dollar gold price is very high. Café
commentary was right on, once again!
This may be the only the beginning of big Aussie
gold producer hedging problems - as said
Ad Nauseum for these past weeks. If gold moves
higher and the Aussie dollar does not go with
it. Uh Oh.
In essence, this is confirmation of our alert:
Problems Down Under!!!
For two years Midas and Café supporters have put
out this kind of information way ahead of every
one else. That is WELL documented.
Remember TIGER, then Soros!!! Café sources nailed
what was to come!!
Is there anyone else in the world FIGHTING for a
free gold market, which means higher gold prices,
than GATA? If so, please tell me who it is and
what they are doing about it. Let us join forces.
Back to the sinking Aussie dollar. It opened sharply
lower today into the US market then found a way
to rally back 80% of what it lost. OK. But, then it
just opened 45 points lower when Australia opened
once again.
You can be sure of one thing. Chase, Morgan,
Goldman Sachs and the US Gov are doing what they
can to control the Aussie dollar and the gold
price. There are big credit problems in Australia
as the Café's Dr. Neville Bennett has informed us.
Their Aussie dollar is in trouble. It is creating BIG
problems for the Gold Cartel. GATA knows it, they
know it.
It is effecting all the Aussie hedging operations
and, in some cases, certain company's future viability.
A squeeze is on and you heard it first at THE CAFÉ.
This is very important because it is part of The
Café's CARTEL CAPITULATION WATCH. If the price of
gold rises and the Aussie dollar does not, there
will be big, big problems down under
in the heavily hedged Aussie gold producer world.
It could easily end up to be a "CAR 54 WHERE ARE YOU?" |
