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

To: russwinter who wrote (327)	6/8/2000 11:05:00 AM
From: goldsheet	Read Replies (2) \| Respond to of 4051

> Unhedged producers with reasonable cost structures? Australian gold miners were the first to hedge and as shown by the top 5 we have researched they are heavily hedged. It is almost a standard business practice, so I can't think of any Australian miners that have a "no hedge" policy. While not atttractive to the investor, they still look like good takeover candidates for other miners. Harmony bought 20% of Goldfields. A buyer could sell the in the money puts and free up lots of cash. Newcrest and Delta are "growth golds" with new favorable economic projects. Both could also be considered value plays for the underlying assets (market caps of about $25 per ounce of reserves)