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Gold/Mining/Energy : Vista Gold (VGZ)

VGZ 1.735

-2.5%

Nov 11 3:59 PM EST

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To: yard_man who wrote (121)	11/22/1997 8:12:00 PM
From: John Wetterau	Read Replies (1) of 379

Barry, I like the hedging. They are in for the long haul. The hedging guarantees them operating funds for two years whatever happens to gold prices on the downside. They have 20% of production free to participate in any rally. Two years gives them enough time to fund and develop the Bolivian property and perhaps the Venezuelan property as well, both low cost mines. It isn't exciting, but I think it is a solid move. Just my opinion of course. John PS. I also like the quick property writedown and the re-engineering of the Bolivian mine to optimize for lower gold prices. Realists.

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