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Gold/Mining/Energy : Vista Gold (VGZ)
VGZ 1.730-2.8%10:23 AM EST
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To: PaulM who wrote (152)1/25/1998 10:47:00 AM
From: John Wetterau   of 379
 
If they made 9.5 million on the earlier hedging and then hedged 90,000 oz at $280, doesn't that mean (in round numbers) that they are realizing $385/oz ($280 + $105) for the 90,000 ounces? They can use their cash to develop the low cost Venezuela resource and then bring on the Columbian resource and reopen the Nevada mine (if they have to close it) when the price of gold rises. Seems like they win pretty much no matter what happens (assuming gold stays above $250/oz).
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