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Politics : Dutch Central Bank Sale Announcement Imminent?

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To: sea_urchin who wrote (855)9/6/1998 9:29:00 AM
From: ForYourEyesOnly  Read Replies (1) of 81831
 
ASL Hedging:

Who know how to calculate the value of the following ASL hedges if they were "cashed in" today? Quick & dirty calc would be fine!

"The Group has commitments for future sales of gold bullion
arising from its hedging which mature as follows:

As at 31 March 1998 1998 1999 2000 2001

Forward contracts:
(i) Spot deferred contracts:
Amount hedged (000's ounces) 89 620 673 547
Average price (US$/ounce) 407 380 390 392

(ii) Fixed forward contracts:
Amount hedged (000's ounces) 164 219 173 188
Average price (US$/ounce) 382 396 398 405

Put options purchased:
Amount hedged (000's ounces) 373 394 300 300
Average price (US$/ounce) 366 358 358 383

Sub total (000's ounces) 626 1,233 1,146 1,035
Average price 376 376 383 392

Call options written:
Amount hedged (000's ounces) 70 50 164 119
Average price (US$/ounce) 464 440 427 367

As at 31 March 1998 (cont.)
2002 2003 2004 2005

Forward contracts:
(i) Spot deferred contracts:
Amount hedged (000's ounces) 628 389 284 308
Average price (US$/ounce) 401 391 405 400

(ii) Fixed forward contracts:
Amount hedged (000's ounces) 45 65 25 -
Average price (US$/ounce) 376 376 376 -

Put options purchased:
Amount hedged (000's ounces) 240 160 160 100
Average price (US$/ounce) 352 431 434 435

Sub total (000's ounces) 913 614 469 408
Average price 387 400 414 408

Call options written:
Amount hedged (000's ounces) 211 415 569 435
Average price (US$/ounce) 426 429 443 438

As at 31 March 1998 (cont.):
2006 2007 2008 Total

Forward contracts:
(i) Spot deferred contracts:
Amount hedged (000's ounces) 221 326 19 4,103
Average price (US$/ounce) 409 417 383 396

(ii) Fixed forward contracts:
Amount hedged (000's ounces) - - - 880
Average price (US$/ounce) - - - 393

Put options purchased:
Amount hedged (000's ounces) 100 100 - 2,227
Average price (US$/ounce) 440 445 - 384

Sub total (000's ounces) 321 426 19 7,210
Average price 419 423 383 391

Call options written:
Amount hedged (000's ounces) 421 392 245 3,089
Average price (US$/ounce) 426 428 379 427 "
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