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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (38499)	8/7/1999 2:21:00 PM
From: Greg Ford	Read Replies (1) \| Respond to of 117013

I am merely looking at share price performance. HM has been outperformed by all the majors. Their only saving grace is that they had a German investor buy a large stake in the company last year and this helped their share price. The jury is still out as to whether they overpaid for their Australian assets, share of prime resources and Argentina Gold. They have a poor reserve life profile and have a higher degree of debt than both ABX and PDG - less debt than Newmont. Their cash costs look more like they will increase in the future particularly if Commodity currencies strengthen. In a low gold price environment they will be a have great difficulty being profitable especially if they don't increase their hedge cover. Greg