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Gold/Mining/Energy : Gold Price Monitor
GDXJ 87.56-4.9%Nov 4 4:00 PM EST
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To: d:oug who wrote (95546)7/1/2003 12:53:02 AM
From: goldsheet  Read Replies (3) of 116752
 
If Newmont had covered the Yandal hedges just after buying Normandy, when gold was averaging just under $300, they would not have got themselves in such a jam. Instead they promoted their "no hedge" philosophy despite the actual hedges on the balance sheet and then were very slow to cover them. You should be upset with them for talking the talk, without walking the walk, as you would put it. It's hypocritical to lecture the rest of the gold industry on hedging when your own house is not in order.
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