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Gold/Mining/Energy : A to Z Junior Mining Research Site
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To: tyc:> who wrote (253)6/21/2002 1:48:17 PM
From: russet  Read Replies (1) of 5423
 
NGX,..yes I agree with what you say,...it is a double advantage for NGX to get rid of the written calls by using cash. I would definitely want to get rid of the banks ability to interfere with my financial affairs,...the leaches! Bloody banks are making money in this downturn because they are "nickel" and diming us to death with service charges,...rant over (ggggggg)

I think NGX's leased gold oz contracts will still be there in the next quarter. I imagine they will deliver their gold production into the leases as they come due, and I believe they only have year long leases, so next year they should be totally unhedged unless as you say they do roll over some for another year. This hedged gold is such a small percentage of total reserves, I can't see this being much of a drag on long term performance.

I do wonder about Cu prices though. The current boom in home construction and car manufacturing put a floor under the Cu prices, but with demand in these areas thought to be slowing as personal debt levels rise, I wonder if we aren't in for some short term weakness in the near future. This continued economic boom in the U.S. and some European countries is amazing, to me anyway, in view of the busts that have occurred in so many sectors of our world economy. With the U.S. dollar coming off, how long before a hangover ensues?
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