Dutch Central Bank Sale Announcement Imminent? Message Board

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Politics : Dutch Central Bank Sale Announcement Imminent?

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To: Bill Murphy who wrote (160)	6/16/1998 9:31:00 PM
From: KAZHAK	Read Replies (1) of 81111

Bill, Some more action in the gold stock options today. In CDE 985 nov 7.5 calls were bought for 1.625, a rather high volatility. In NEM 1,000 of the july 22.5 calls traded and 1,000 of the sep 22.5 calls traded. This may be a roll out of july into september, maybe this customer wants a bit more time. There was almost 1,000 big puts(80 level) sold in the XAU, probably closing out a short position. I was going through the financials of some gold producers the other day, and found some unbelieveable things that are indicative of the sentiment out there. CDE total capitalization at less than 170 million, is less than the total amount of cash they had on the books at apx 200 million as of 3/31/98. They have some convertable debt at farily low interest rates. Their book value is listed at over $14. Today it closed at 7.75. KGC is also trading at about book value, with low debt and plenty of cash. My question is 1) is there something I am overlooking, 2) at this point would you recommend gold futures, or stocks like these? Thank you for your response. KAZAHK

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