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Gold/Mining/Energy : Gold and Silver Mining Stocks
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To: Frank Pembleton who wrote (1355)6/11/2001 2:25:18 PM
From: goldsheet  Read Replies (1) of 4051
 
> I guess perception is everything.<g>

Correct.

Homestake has a perception of having very little hedges. They have about 2moz, about 10% of reserves. 1.5moz is hedged in $AUS at about $US265, under current spot. Meanwhile, folks are mad at Barrick for being hedged at $340+

Placer Dome made a nice speech and news release over a year ago about how they were going to reduce hedging. They now have a perception of being a "reluctant hedger" although they are just about as hedged as Barrick, relative to reserves and production.
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