BLACK HAWK (TSE:BHK) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : BLACK HAWK (TSE:BHK)

BHK 9.720

-0.8%

Nov 3 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: TheBusDriver who wrote (454)	9/6/2002 7:06:56 PM
From: Stephen O	Read Replies (1) of 545

absolutely, the only reason they sold calls to start with was to come up with money to buy puts. This was a requirement from the Standard Bank so that their bank loan would be extended. This goes back a while. They sold the puts for a capital gain in April 2001 and with that money plus other cash they had generated they paid off the bank in full. They left the calls outstanding and BHK are delivering their gold production effectively against the calls. The amount is 4,160 ounces per month. The last set of calls is for Jan 2003 which they will use when delivering their December 2002 production.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next