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

To: Bobby Yellin who wrote (44305)	10/29/1999 12:53:00 PM
From: tyc:>	Respond to of 116764

But even the lowest cost producers are caught up in the hedging game...It's hard to believe that they thought their survival was at stake. I believe that they were enamoured of the profits that the short side produced. They weren't really hedging; they were playing both sides to enhance their bottom line. A mining company should stick to mining, not playing the derivative game to enhance profits. One sees the same kind of sentiment in their incessant quest for GROWTH. If mining needs hedging, why seek growth with its high capital requirements ? When are the mining companies going to think about returning something to shareholders ?