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Gold/Mining/Energy : Gold and Silver Mining Stocks
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To: russwinter who wrote (668)4/3/2001 12:38:11 PM
From: que seria  Read Replies (3) of 4051
 
Glad I sold my FN long ago. I suppose this deal means FN sees no problem with huge hedges driven by not just gold market but also by a long-term decline in Australian currency. Since the US dollar looks toppy and its reversal would reverse the leverage that's been working for Normandy, I see this deal as adding unwelcome currency and market price insecurity (i.e., a bet in the wrong direction) unless they close out hedges. If they do I might get back in.
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