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Gold/Mining/Energy : Gold Price Monitor

GDXJ 107.29

-0.9%

Dec 2 4:00 PM EST

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To: Enigma who wrote (82130)	2/16/2002 9:37:16 AM
From: long-gone	Read Replies (1) of 116791

<<Blaming the bankers for hedging (if indeed there is any blame at all) takes away the responsibility of management - somehow assuming that these grown ups are like lambs. The buck begins and ends with the executives themselves>> The requirement for a recent loan by Bema was that they hedge a portion of gold production they are far from the only example. Hell, there was a time when any gold miner that didn't hedge had the Credit Rating reduced - it may still be true. What is the mining firm with the highest credit rating - are they hedged or unhedged? Who sets the standards for business credit ratings - the banks you say? You can attempt that talking that trash with others, but it don't fly here. There is plenty of blame to go around

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