A to Z Junior Mining Research Site Message Board

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Gold/Mining/Energy : A to Z Junior Mining Research Site

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To: 4figureau who wrote (2832)	1/22/2003 2:35:07 PM
From: 4figureau	Read Replies (1) of 5423

Foolish I guess....a rumour that ABX wants to take out Aussie co. Newcrest is on hold due to their (Newcrest) hedge position. How about this: >>The study, which covers the cumulative hedging activities of 98 gold producers, found that the global hedge book declined by 4.8m ounces (150 tonnes) to 86.6m ounces (2,692 tonnes). From September 2001 to December 2002 the total fell by 15m ounces (466 tonnes).<< If China continues to buy close to 100 tonnes a month (never mind the 300 tonnes expected to be consumed by Chinese public this year) like in December...what will the POG be at when the 98 producers cover most of their 2692 tonnes??? (gggg)

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