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Gold/Mining/Energy : BLACK HAWK (TSE:BHK) -- Ignore unavailable to you. Want to Upgrade?

To: robin hood who wrote (335)	10/23/1999 1:37:00 PM
From: Stephen O	Read Replies (1) \| Respond to of 545

Reduce at 16c but buy at 10c. That's 60% on your money. Don't forget that the Call options are all European style. That means they can't be exercised until the due date by which date they will have mined the gold and sold it. The Call options they have written will only be a major problem if the bullion banks etc on the otherside of the options trades can demand horrendous terms on a margin basis. BHK is not like Cambior who have written more Calls than their production.