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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Earlie who wrote (143585)	1/14/2002 11:37:32 AM
From: Box-By-The-Riviera™	Read Replies (4) of 436258

don't quite understand that rationale... correct this please if my thinking is wrong.... SA miners receive windfall vis a vis falling rand.. i.e. they are paid in dollars.. it's a dollar vs. rand windfall gold bet is gold price rises over time.. second windfall when that time comes... why sell them? rand rise vs dollar will simply halt the unexpected rand windfall gold price rise creates another... why sell them? also consider droopy's weathering of some pretty negative press regarding their forward closing of their hedge... that wasn't a rand based move in my view.. that was postive fundamentals on the hedge vs. unhedge equation.. and in droopy's case.. requires a positive forward view going out to June when that piece of operationally bad news will be officially behind them..... SA miners getting stronger while waiting a higher average price in gold is fundamentally a major gift is it not?

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