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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (55835)	7/6/2000 10:34:36 PM
From: long-gone	Read Replies (1) \| Respond to of 116805

<<i didn't know about this S&P directive. in view of the ASL and Cambior debacles it is utterly laughable.>> It happened (I beleive) a full year prior to their problems - but we knew what (in part) brought it on!

To: pater tenebrarum who wrote (55835)	7/6/2000 10:47:41 PM
From: John Soileau	Read Replies (3) \| Respond to of 116805

From Ashanti's own website, a few quotes: "Nevertheless, the mark-to-market value of the portfolio did deteriorate. From an estimated US$290 million positive at 30 June (at a spot gold price of US$262 per ounce), it declined to approximately zero at 27 September (at spot US$280/oz), and then declined further to a negative US$280 million on 5 October (at spot US$305 per ounce). The mark-to-market value reached an estimated level of negative US$570 million on 6 October (at spot US$325 per ounce)." "a US$10 per ouncechange in the price of gold would alter the mark-to-market value of the portfolio by about US$97 million." "Ashanti estimates that the hedge portfolio will provide significant protection for the Company’s future gold revenues, particularly if the price of gold were to remain below US$300 per ounce." Lucky Ashanti, to have the POG range trading below $295 these days. Even luckier for the counterparties, eh? Its a wacky world when a producer benefits from a lower price for what it sells.