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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?


To: yard_man who wrote (85609)2/20/2001 12:39:23 PM
From: pater tenebrarum  Read Replies (1) | Respond to of 86076
 
AU has sold forward 50% of its production over 5 years...altogether 15 million oz.
they can't get any margin calls (their contracts stipulate that), but the mark-to-market value of their hedge book would still become a huge liability in case of a gold rally.