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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (7667)	9/5/1999 11:18:00 AM
From: Enigma	Read Replies (1) \| Respond to of 82045

<<What you should look at is total number of oz sold by ABX, is it not more than total amount they produced?>> I'm not sure if this means anything - if true - so long as they can produce the ounces required in future - and as people have pointed out here the # of ozs sold forward is very conservative in relation to total reserves which can be mined at a profit. d

To: long-gone who wrote (7667)	9/5/1999 11:27:00 AM
From: goldsheet	Respond to of 82045

> What you should look at is total number of oz sold by ABX, is it > not more than total amount they produced? Can the same be said > about Anglo or goldfields? Yes for Anglogold, who had 368mt (11.5 million ounces) sold forward at the end of 1998 versus production of 6.9 million ounces. That's almost two years production. anglogold.co.za "During the latter half of 1998, hedge cover for the local operations was rebuilt to a total of 255 tonnes spread over ten years at an average price of R80369 per kilogram, and 59 per cent priced in rands; 58 per cent of this cover is scheduled to mature in the first two years. In addition, we extended cover for Sadiola in Mali and Navachab in Namibia. Following AngloGold's successful tender for the gold assets in Minorco, we entered into additional forward sales of some 113 tonnes of gold priced in dollars to guarantee revenues from these new acquisitions as part of the conditions of loan financing obtained against this acquisition. "