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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: isopatch who wrote (29644)2/9/2002 9:03:56 AM
From: Louis V. Lambrecht  Read Replies (1) of 52237
 
OK, got one link for AngloGold:

>AngloGold scales back Rand hedging

By: David McKay & Laura Clancy


Posted: 2002/01/31 Thu 20:00 ZE2 | © Miningweb 1997-2002


JOHANNESBURG – AngloGold today (31 January) confirmed it had made a fundamental shift in its attitude to gold hedging declaring its intention to further haul in the rand component of its forward contracts and reduce its overall hedge position.
In practice this has meant not adding to the hedge book while simultaneously delivering into its positions. For instance, the group's rand forward positions last year totalled about 38 000 kilograms compared to only 20 000 kilograms in 2002. Overall, AngloGold's rand forward position has been reduced to 103 000 kilograms from 125 000 kilograms previously. Total rand priced hedges will amount to 125 tons or 27 percent of the total hedge.
mips1.net
(btw, look at the end of the doc for Heinz Blasnick's comment <g>)

If memory serves, the NEM side was a comment of Pierre Lassonde (next CEO of the merged NEM), probably cited by Tom Calandra. ( cbsmarketwatch.com )

Those comments are posterior to Jan 31.

EDIT:
yet another one
mips1.net
AngloGold joined Normandy, Australia's biggest producer, in reducing forward sales as they bet gold prices may rise on a drop in supply.
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