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Gold/Mining/Energy : Pangea Goldfields T.PGD -- Ignore unavailable to you. Want to Upgrade?

To: LaFayette555 who wrote (257)	10/6/1999 8:10:00 PM
From: Giraffe	Respond to of 1178

:) Thanks!

To: LaFayette555 who wrote (257)	10/6/1999 8:18:00 PM
From: AriKirA	Respond to of 1178

Interesting article that explains why the Gold producers may not be doing as well as POG Globe says Ashanti, Cambior hedging backfires Cambior Inc CBJ Shares issued 72,890,161 1999-10-05 close $4.74 Wednesday Oct 6 1999 See Ashanti Goldfields Co Ltd (AHD.U) In the News The Globe and Mail reports in its Wednesday, Oct. 6, edition that the price of gold soared yesterday, but investors in Canada's gold mining companies ignored that action -- apparently because of fears that the hedging strategies of some producers have backfired. The Globe's Allan Robinson writes that Ashanti Goldfields disclosed yesterday that its hedging strategy has resulted in it being caught in a gold squeeze that could cost it millions of dollars. However, the troubles some gold producers find themselves in, while serious, could pale in comparison to similar problems rumoured to be facing hedge funds and certain central banks with extensive dealings in bullion. Ashanti says because of the runup in the price of gold, some of the banks it had borrowed gold from were entitled to make margin calls, which are demands for cash or securities held by the company. Ashanti shares tumbled $3.87 (U.S.) to close at $5.50 on the New York Stock Exchange. Cambior shares dropped $1.06 (Canadian) to $4.74 on concerns that it might face liabilities on its hedge position. The shares of Barrick Gold fell $2.35 to $32.90 and the shares of Placer Dome declined 55 cents to $23.7