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Gold/Mining/Energy : Birim Goldfields Inc. (BGI-T) -- Ignore unavailable to you. Want to Upgrade?

To: Brian MacDonald who wrote (323)	10/6/1999 3:11:00 PM
From: The Barracuda™	Read Replies (1) \| Respond to of 922

I agree. But what would it be called if I was given a margin call and tried to get a standstill agreement? Typically, a margin call is met-not negotiated over.

To: Brian MacDonald who wrote (323)	10/6/1999 3:16:00 PM
From: ogi	Respond to of 922

On the other hand sometimes once you get your first margin call, you just keep on getting them and getting them! I don't know the specifics of Ashanti's hedges but I do understand that they have hedged years of production and it seems to me that is the squeeze they are in. I believe they have over 10 mil ozs hedged versus total in ground reserves of 23 mil. I they can't make their first margin calls then I think it is reasonable to assume they are in a great deal of trouble.

To: Brian MacDonald who wrote (323)	10/6/1999 3:19:00 PM
From: The Barracuda™	Respond to of 922

hope to heck you are right. Its the majors like Ashanti that finance the juniors. I've Seen post on Cambior's hedged book that is scary.

To: Brian MacDonald who wrote (323)	10/6/1999 9:05:00 PM
From: Buckey	Read Replies (2) \| Respond to of 922

Am I missing something here. I though the intention of the hedging by these Gold producers was to give stability to future income by locking in sale prices of future production. CBJ issued a similar NR today. It appears as if these guys got way to cute on both sides and were trying to make money in addition to just securing a stable reveenue flow. Maybe I am miising something here and I have some math to wrok out - especially on the CBJ news. These guys got burned by being too risky