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Gold/Mining/Energy : GOLDEN PHOENIX MINERALS, GPXM
GPXM 0.000001000-99.0%May 28 1:24 PM EST

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To: Robert J Mullenbach who wrote (205)5/10/2001 12:06:09 AM
From: KipferlMeister  Read Replies (1) of 811
 
1159 [Dow Jones] Centaur Mining (CTR), which may be forced to cover short positions if insolvent, is 1 million oz short on gold at A$440, say dealers in Sydney, so would stand to lose A$73-A$75 million as gold now at A$513.40-A$514.90. A buyback could also send spot gold up to US$275 "without drama," says one Sydney-based dealer, with such speculation having sharply boosted gold price last night. Company could have covered through funds in N.Y. but likely waiting for lower prices before buying, dealer says. Gold price latest US$269.30, vs US$269.90 in N.Y. (WCP)
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