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Gold/Mining/Energy : BLACK HAWK (TSE:BHK) -- Ignore unavailable to you. Want to Upgrade?

To: baystock who wrote (363)	1/12/2000 4:24:00 PM
From: robin hood	Read Replies (1) \| Respond to of 545

Why your are posting here if you don't like BHK. Believer always believer for ever. R.H.

To: baystock who wrote (363)	1/12/2000 5:04:00 PM
From: EZbeliever	Respond to of 545

Ram...Appreciate the response Have seen you in action over time on several plays and am always interested in your opinion. We are in 100% agreement on DROOY. Have been accumulating it for some time and I am holding long term figuring it will be a "blue chip" holding down the road. Already own quite a few shares of Blackhawk. Knew we were looking at trouble this summer during the financing fiasco. Didn't realize how bad until the spike in gold. Guess what, this one looks like it will work out after all. Some positive developments in the works. Like some others here I've got some in the mid teens, but much more under ten cents. Looking much better now. What a difference a day makes! EZ

To: baystock who wrote (363)	1/12/2000 5:51:00 PM
From: gilbert leblanc	Read Replies (2) \| Respond to of 545

This is not good at all. If the POG goes down or stays the same this company will not do any better than it is now. If the POG explodes up in price they may go under because of their hedge position. So overall not a very attractive risk reward position. Never forget one thing, if BHK reduce the cash cost at El Lemon mine, they will do better if the price of gold stay at this level. If the POG go down, they could do better. If the price for example go below the price of their putt position, they are in a winning position. What's more, BHK didn't sell naked calls in the way CAMBIOR did. BHK had only calls on their projected production for the next 3 years. In fact, is is not all their production who is cover but approximatly 80%. Yours truly, Gilbert Leblanc