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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 (704)	2/10/2000 5:37:00 AM
From: Roebear	Read Replies (1) \| Respond to of 1612

Robert, Western Areas closes out forward sales, shall we call it GOLDPEC, heh heh: WESTERN AREAS CLOSES OUT FORWARD SALES FOR NEXT TWO YEARS Release Date: 10/02/2000 11:31:07 Code(s): WAR ¸ 1999 Sharenet JOHANNESBURG, 10 FEBRUARY - WESTERN AREAS LIMITED ANNOUNCED TODAY THAT IT HAD CLOSED OUT ITS FORWARD SALES OF GOLD FOR THE NEXT TWO YEARS AT A COST OF R19 MILLION. FORWARD SALES FOR THE REMAINING EIGHT YEARS OF THE COMPANY'S HEDGE BOOK TOTAL 654 000 OZ, REPRESENTING 18% OF ATTRIBUTABLE PRODUCTION OVER THE SAME PERIOD AND 2% OF ATTRIBUTABLE RESERVES. MANAGING DIRECTOR JOHN BROWNRIGG SAID THE CLOSE-OUT WAS IN LINE WITH THE COMPANY'S POLICY OF ACTIVELY MANAGING ITS HEDGE BOOK. IT WOULD CONTINUE TO REVIEW THE HEDGE POSITION AND TAKE ADVANTAGE OF MARKET CIRCUMSTANCES. FOR FUTURE INFORMATION CALL JOHN BROWNRIGG ON +27 11 688-5076 OR MOBILE +27 (0) 83 653 4043 ISSUED BY DU PLESSIS ASSOCIATES ON BEHALF OF WESTERN AREAS LIMITED. DPA CONTACT KATHY DU PLESSIS ON TEL +27 11 728 4701, CELL : +27 (0) 83 266 5847 OR E-MAIL: GOLD@DPA.CO.ZA