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Gold/Mining/Energy : Manhattan Minerals (MAN.T) -- Ignore unavailable to you. Want to Upgrade?

To: Bruce Robbins who wrote (3781)	10/24/1999 1:32:00 PM
From: TheBusDriver	Respond to of 4504

<< and gold picks a direction.>> Well if POG does not break this support around $300 we should head north. If some shorts have not covered yet it could be enough to force them into the open. Hope so. Gold finished fairly strong on Friday. wayne

To: Bruce Robbins who wrote (3781)	10/24/1999 2:03:00 PM
From: Sailfish	Read Replies (1) \| Respond to of 4504

Hi Bruce... From : smh.com.au On Friday, as the gold price dipped to about $US303 an ounce, Ashanti won a third margin call postponement (until late today (OCT25th)) with the fall in gold in the past few weeks reducing losses on its hedge book to a more manageable level. If the gold price holds at about $US305, Ashanti will not face margin calls, since its losses are covered by an existing revolving credit facility and it will not face enforced short covering, thus removing a major source of buying from the market. Other investors who are still short gold are in a similar position, with the pressure on them to do something diminishing with every dip in the gold price. It is estimated that Ashanti alone faces margin calls of $US270 million ($415 million) at a $US325 an ounce gold price, increasing to about $US500 million at $US350 an ounce. ================= ================= The two main camps in this regard range from "Anshanti has hit the wall" to " interventions by third parties will result in the POG remaining in it's current range and possibly even move slightly below $300 US".... However, any interventions, IMO, will only serve to postpone the inevitable... Either scenario makes MAN's expanding Au/Ag oxide cap look better every day... Regards....Ray