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

To: Robin Plunder who wrote (82593)	2/26/2002 11:06:25 PM
From: d:oug	Read Replies (1) \| Respond to of 116994

"The purpose of this thread is very simple: To monitor/analyze those factors affecting the price of gold, long-term, short-term, and in-between, and to determine where we currently stand in relation to those factors... do not seek or give recommendations or advice on individual stocks. I hope this..." (or) You may ignore the above like so so many others here do, or you may not add an Bad Breadth Encompassing but take detour below. Precious and Base Metal Investing Subject 51846 ... precious and base metal investing. ... emphasis to be on micro issues, with company analysis encouraged. ... thread had it's genesis at Gold and Silver Mining Stocks

To: Robin Plunder who wrote (82593)	2/26/2003 5:38:07 PM
From: long-gone	Read Replies (1) \| Respond to of 116994

fair use Gold hedging brinkmanship is here By: Tim Wood Posted: 2003/02/25 Tue 21:00 EST \| © Mineweb 1997-2003 NEW YORK -- Newmont [NEM] has provided unusually fulsome disclosure – as far as gold producers go – on a troublesome portion of its hedge book. The revelations are important because they potentially recast the definition of hedging margin calls, as well as provide an unusual view of hedging counter party risk management. Newmont revealed that its hedge counter parties for the Yandal operations – understood from Australian sources to originally be JP Morgan Chase and Credit Suisse First Boston – have exercised “right-to-break” clauses prior to the scheduled maturities of Yandal’s forward sale contracts. This means that the counterparties can demand cash settlement rather than wait to take delivery of promised ounces of gold.(See table at end of story) Both JPM and CSFB have wound down their gold operations substantially, and the current Yandal counterparties are likely other banks. The counterparties demanded early cash settlement in December and January, with the right to do so again in June 2004. The right-to-break amounts to a type of margin call (cont) mips1.net