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

To: goldsheet who wrote (81885)	2/12/2002 5:25:11 AM
From: IngotWeTrust	Read Replies (2) \| Respond to of 116756

IF this is what passes for PruBache analysis nowadays...>>The Prudential analysts mentions that closing the Normandy hedge will take up all the Franco-Nevada cash balance. They would probably be better served delivering production into the contracts over time than blowing the FN cash just to make the claim they are 100% hedge free.<< no wonder PruBache's earnings are not stellar. That piece of "analysis" was copied directly from a previous press release or Murdy's utterance on CNBC or somewhere. NEM is not stupid. It is my recollection they already stated they would be delivering into those hedges, as some mining concerns are wont to do under the customary mining hedge practices of days of pre 9:1 calls to put ratio derivs goofiness. And that they would be taking their sweet time to lift those hedges. Remember, I'm from the old school that not all hedging is bad. I doubt seriously ABX or Anglo are going to be picking at NEM's bleached bones any day soon or even foreseeable future. I'm sure glad you put that IF in there... gold_tutor .