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

To: Alex who wrote (729)	11/3/1999 6:11:00 PM
From: Edmund Lee	Respond to of 905

Volume had been high in New York for the past few days except yesterday. Over a million share each day. From Yahoo site email from TVX as follows: ---------------------------------------------------------------- TVX's hedge position, as of Sept. 99, is as follows: Gold 32,250 ounces hedged forward at an average price of $299 to the first quarter of 2000 680,000 ounces of puts bought at price of $280 to 2003 Silver 6,500,000 ounces hedged through puts at a net strike price of $5.09 till the end of 2000. 15,650,000 ounces of calls sold at an average price of $6.06 out to 2004. The puts represent a right belonging to TVX and not an obligation to deliver. They can be considered as an insurance policy, representing the minumum price may receive on its production. Our hedge positions is available in our annual report which can be accessed from our website. There as been no material change in our positions as of Sept 99 otherwise a press release would have been issued. We may make further statements regarding our hedge position when we release our third quarter results on November 4th. Regards, Carl Hansen Manager, Investor Relations.