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

To: re3 who wrote (44818)	11/10/1999 7:24:00 PM
From: SwampDogg	Read Replies (1) \| Respond to of 116764

This isn't gold but is still interesting... TVX Gold reduces silver hedge position TVX Gold Inc TVX Shares issued 179,600,000 Nov 9 close $1.25 Wed 10 Nov 99 News Release Mr. Ed Baer reports TVX Gold has recently reduced its silver hedge position by one-third, buying back 5.05 million ounces of silver written call options and selling 2.5 million ounces of its existing silver put options. The net cost of the transaction was $1.35-million. As a result of the reduction, the revised silver hedge position now stands at 2.25 million ounces of long put options at a strike price of $5.06 per ounce, from December, 1999, through to December, 2000, and 10.6 million ounces of written call options at a strike price of $5.99 per ounce from December, 1999, through to December, 2003. TVX's silver production for 2000 is estimated at 4.5 million ounces. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com