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Gold/Mining/Energy : Royal Oak-RYO
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To: Michael Bidder who wrote (547)12/10/1997 3:02:00 PM
From: Bill Jackson  Read Replies (1) of 1706
 
Mike; The money spent is gone away, what will the cash cost to get
each extra ounce??, ie the marginal cost of operations. One hopes the hedges go far enough to allow for the cash cost to be covered, and even if not operating spots buys can be flipped into hedge, or the hedge position vended out until it is on line.

Bill
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