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

To: re3 who wrote (658)	4/2/2001 6:11:08 PM
From: russwinter	Respond to of 4051

We should hope that FN's emergence as a major shareholder and possibly future deal and development backer suggests a change in NDY's corporate culture. If they signal a new hedging regime that could have very bullish ramifications. Other mining outfits are going to have to wake from their slumber if NDY and FN start setting the pace on consolidations and buyouts. FN is a unabashed gold bull and has US 3/4 billion in cash and no debt on hand. That financial strength makes the two together pretty formidable. They have clearly fired off a first volley with this deal. It will be interesting to see if FN's next round is alone or with NDY? Potential targets: TVX (NDY has stake and partnership already and company is through, needs to be sold), Great Basin (FN deal), and Minefinders (FN stake, NDY-like project). We should get more clues at the conference calls tomorrow.

To: re3 who wrote (658)	4/2/2001 8:02:07 PM
From: goldsheet	Read Replies (1) \| Respond to of 4051

Normany has a huge hedge, something like 10Moz out of 16moz of reserves. Adding Ken Synder adds reserves without adding more hedges, but leave them near 50%. I concur with russwinter that FN should have a positive impact on NDY management and hedge policies. Personally, I am glad to see FN get rid of operations and go back to being a pure royalty / investment firm. I think they could put together a good portfolio (TVX and GBG, as suggested, are good candididates) I have been thinking of NDY as a takeover target by Homestake. It now makes me wonder if FN/NDY might do the opposite - takover Homestake ??