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Gold/Mining/Energy : PAAS : Pan American Silver -- Ignore unavailable to you. Want to Upgrade?

To: Bill F. who wrote (91)	5/25/2000 8:20:00 PM
From: LTK007	Respond to of 294

trying to find out about PAAS hedging policy,but this was the only post i could find,and it is from 1999.(i include that post) can anyone update as to their present policy<<To: koan who wrote (62) From: Duke Blue Monday, Nov 15, 1999 2:53 PM ET Reply # of 91 I had a conversation with someone in the company on the hedging issue. My notes... 1) The hedge program is not fully defined - the other points here are probable (but not absolute) points. The final hedge position will be revealed clearly once it's in place next year. 2) PAAS plans on hedging 70% of Dukat's gold output, since gold is more liquid and can be hedged on longer terms. 3) PAAS made two mandates on hedging - never more than 50% of any year's expected production from Dukat and no more than 12 million ounces at any time. 4) PAAS will pay a little more to hedge conservatively and retain as much upside as possible. 5) PAAS understands hedging can go both ways. So, they got the banks to provide a no-cost margin account to collapse the hedge if it begins to affect the company negatively. My opinion, I think they are doing a good job of raising funds for Dukat without selling the farm (or mine, in this case). To me, they don't want to hedge as much we don't want them to. Also, I just bought in last week - and that makes me... Happily Long PAAS, Duke>> max