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Gold/Mining/Energy : Gold and Silver Mining Stocks

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To: que seria who wrote (669)	4/4/2001 1:42:35 AM
From: Davy Crockett	Read Replies (2) of 4051

I'm confused. 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 don't understand... what leverage? I'm not a currency expert by any stretch (I still have trouble tying up my shoelaces), but if I remember correctly hasn't the Aussie $ been the inverse to the U.S $? So, if the U.S$ tops out, & starts it's long awaited decline, would that not mean that the Aussie $ might reverse it's trend? If the Aussie $ breaks its long-term decline wouldn't that add value to FN's position? I agree with you regarding your comment about the hedging aspect of this deal. I have FN as a hedge in my portfolio & am currently re-evaluating the situation. Regards, Peter

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