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To: Ken Benes who wrote (35031)6/10/1999 4:09:00 AM
From: E. Charters  Respond to of 116957
 
We do not short. We buy hedged puts and calls only to protect and balance our position. We sell gold naked, (it can be done), in order to finance the producer to deliver the loan. and let the producer short us. Not the other way around. We are long. At the bottom. Make more sense? The money raised is to pay interest on our loan. It is abosolutely risk free. The producer protects your short. You pay the loan in physical gold. You collect the premium difference that you charge the producer.

mailto:echarter@grubstake.on.ca