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

To: Robert Dirks who wrote (42311)	10/6/1999 8:18:00 PM
From: Giraffe	Respond to of 116764

from ft.com GOLD: Price jumps to two-year peak By Gillian O'Connor, Robert Corzine and Paul Solman Gold surged to new two-year peaks yesterday, amid volatile trading conditions. The price, which was fixed at $362.25 [sic :)] per ounce in the morning, touched $338 before sliding back to $325.50 at the afternoon fix. Spreads between buying and selling prices were again an abnormally large $2 to $3. Earlier worries that the recent surge in the bullion price might have created problems for some gold mining companies and bullion banks were underpinned by Ghanaian mining group Ashanti's latest statement on its hedge book. This said that at Monday's gold price of $317.50, the replacement cost of Ashanti's 10m ounce hedge book was $450m, triggering margin calls by some of its counterparties. Crude oil prices slid further as the speculative pressure that has sent prices soaring in recent weeks continued to recede. The bellwether November Brent oil futures contract was quoted at $22.74 a barrel in late trading on London's International Petroleum Exchange, down 24 cents. On Monday the November Brent contract lost 69 cents a barrel, as hedge funds and other speculators began to unwind long positions. Sentiment, however, remains positive about oil prices in the run-up to the northern winter and in light of the continuing production restraint by leading exporters, three of which - Mexico, Venezuela and Saudi Arabia - plan to meet next month for informal talks.

To: Robert Dirks who wrote (42311)	10/6/1999 8:35:00 PM
From: long-gone	Read Replies (1) \| Respond to of 116764

<<HM had a 9 million block traded today. Has to be a fund or a very big investor putting up very big bucks......>> rumor has it another mining firm had a great many shares in most other firms. If true, this dumping may show a "greater plan" afoot. fwiw, As for HM, I have lesser fear than most of the other issues I hold, as A German Count holds a very, very large position. I'm deeply afraid, in the coming gold world, it may be survival by being an exploration firm, a Jr., a monster multi-national company, or one producing more silver than gold....

To: Robert Dirks who wrote (42311)	10/7/1999 12:31:00 AM
From: Rarebird	Read Replies (4) \| Respond to of 116764

Robert, that was a 9.65M block at the open and a few think that Malaysia Mining was the Seller. HM had bought a company called Plutonic ( I may be off on the spelling ) Resources last year and Malaysia Mining was the biggest shareholder. Furthermore, some think that Malyasia Mining was short Gold and desperately needed to raise cash. Thus, the underperformance of HM over the last 10 days. HM had over 15 Million shares traded and some see that big block as the culminating act of selling in HM. Judging by the late day comeback from being down over 7% in the first half hour of trading to unchanged, we may have witnessed a very bullish intraday reversal. Time will tell.