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Gold/Mining/Energy : Agnico-Eagle Mines Ltd. - AGE (U.S. AEM) -- Ignore unavailable to you. Want to Upgrade?

To: Robert J Mullenbach who wrote (521)	10/28/1999 1:26:00 PM
From: ahhaha	Read Replies (1) \| Respond to of 1612

I like this company, but I don't like the gold market now. I don't think there is much risk, but also, there isn't much return. It's just standard business practice, but I didn't like this: As part of this credit facility, the Company is required to put in place downside price protection for gold in the form of put options on approximately 20% of its total current gold reserves and resources. The cost of purchasing these put options will be financed, in part, by selling call options on a small percentage of the Company's by-product metal reserves. Consistent with its policy of the last 20 years, the Company will not sell away any of the upside on its future gold production. The banks are stipulating that the companies have to mortgage their futures in order to survive. I hate this. It's happening with a lot of companies. I wonder when authority will outlaw physical gold possession?

To: Robert J Mullenbach who wrote (521)	10/29/1999 12:06:00 PM
From: Robert J Mullenbach	Read Replies (2) \| Respond to of 1612

Week #5, Gold (just under 300 )on London afternoon fix. cheated a little here, and going to give it to 300. I would have had to start over count. lets see next week.

To: Robert J Mullenbach who wrote (521)	10/30/1999 2:13:00 AM
From: Yogizuna	Respond to of 1612

Bob, It appears to me that AEM will be in very good shape for the long term future, as long as the PTB (powers that be) do not think it mandatory to keep the POG (price of gold) below $300 for an extended period of time. I do not like the idea of them being "forced" to purchase put options as "security" for their credit agreement though, as the odds favor that being just more money being burned away... And, I see that they will also sell some calls, but fortunately, this is not against future gold production. Yogi