NORTHGATE EXPL (NGX.TO) Message Board

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Gold/Mining/Energy : NORTHGATE EXPL (NGX.TO)

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To: tyc:> who wrote (58)	6/23/2002 11:58:54 AM
From: tyc:>	of 158

Postscript >>failure to complete the deal on the terms arranged will occur only if it is to NGX's disadvantage. What this means is that NGX's risk is in the downside of gold. If the price of gold goes up, NGX will close their hedges at the prearranged price that includes the contango. It is in the unlikely event of bullion bank failure to complete the deal when gold prices are very much lower, that NGX could be at risk, having lost the advantage of the hedge.

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