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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?


To: russwinter who wrote (306)6/7/2000 11:51:00 AM
From: goldsheet  Read Replies (1) | Respond to of 4051
 
RE: Normandy

We agree on this one, too ! I have previously pointed out Australian miners have the highest hedge positions in the world (bigger than ABX/PDG 15% of reserves), with Normandy near the top. They have something like 30%+ of reserves hedged, with 70%+ of the next few years of production sold. This is potentially VERY dangerous, especially with the questionable economics you correctly mentioned in your post.