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To: Jorj X Mckie who wrote (53)	8/8/2000 8:49:56 PM
From: pater tenebrarum	Respond to of 335

no, i guarantee you the nominee cos. will never sell their shares. most have owned their shares for well over 100 years and have made their principal many times over in the form of dividends. they simply have no compelling reason to sell. the expansion of the hedge book had mainly to do with the financing of new projects, but still was a disappointing development imo. it had little to do with Anglo's views on the gold price, at least not those publicly stated. the hedging issue is a hotly contested subject among gold stock investors...i personally prefer top play unhedged, or at least little hedged stocks as the only reason to buy them is to participate in the leverage of earnings to the gold price imo.