Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: loantech who wrote (49519)	9/25/2007 4:47:26 PM
From: marcos	Read Replies (3) of 78409

The hedgers are just not ever going to get the same consideration as the free-and-clear plays, imho ... you can see the sense in hedging, as both epm and wgi are about to produce thanks to it, for them to raise capex purely through equity would have been hugely dilutive ... so i don't mind it personally, as long as it's used prudently [which means they get rid of it as soon as cash flow makes that possible] But it's a fact of life that hedgers are no longer 'pure' in the eyes of many 'bugs, and even to the rest of us it's clear that a good part of their mid-term upside is gone, in fact for some of them a ramp in gold like the six-month one that started two years ago will do them serious damage So i am liking goz.v more and more, since they don't need much for capex to get to full production, having all permits and the mill etc, so they're not likely to hedge ... for timing, they shouldn't be too far behind epm, once the fease is done they can pretty much go to it ... and a gravity process gives you the metal instantly, just grind rock, shake it up, and there's your gold

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