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

To: Eclectus who wrote (550)	1/28/2001 12:55:28 PM
From: Richard Mazzarella	Read Replies (1) \| Respond to of 4051

Eclectus, I understand that HM does hedge a little, but they are known as being mostly an unhedged miner. HM is currently my favorite gold stock for appreciation on the next gold bull market that is just around the corner. HM stock is already strengthening in anticipation. See: www2.marketwatch.com

To: Eclectus who wrote (550)	1/28/2001 11:17:51 PM
From: goldsheet	Read Replies (3) \| Respond to of 4051

> Can anyone tell me Homestake Mining current gold hedge "The Company's hedge portfolio has no floating lease rate exposure or margin call requirements. The estimated fair value of the Company's remaining gold hedging position at September 30, 2000 is approximately $32.4 million and encompasses approximately 1.8 million ounces at an average price of $327 per ounce" > current/future hedge policy? "Homestake's precious metals hedging policy provides for the use of forward sales contracts to hedge up to 30% of each of the following ten year's expected annual gold production, and up to 30% of each of the following five year's expected annual silver production, at prices in excess of certain targeted prices. The policy also provides for the use of combinations of put and call option contracts to establish minimum floor prices. Homestake does not hold or issue financial instruments or derivative financial instruments for trading purposes or to create hedge positions in excess of forecast identifiable exposures. "