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

To: E. Charters who wrote (83531)	3/20/2002 8:10:06 PM
From: John Soileau	Read Replies (2) \| Respond to of 116759

Apologies in advance for this dildo-free, on-topic post :) mips1.net CSFB PLAYING HARDBALL WITH CRIPPLED ASHANTI ...Ashanti announced that it has secured interim margin free hedging contracts until the end of the year with all its major counter parties save for one - Credit Suisse First Boston... ...CSFB remains unwilling to forego its right to margin calls against Ashanti's hedge book, which nearly crashed the company when gold prices soared in 1999... $370 SPOT WOULD CAUSE ASHANTI MELTDOWN--AGAIN!! ...There can be no doubt that if gold rose to $370 an ounce next week, CSFB would issue a demand within minutes ... ROTHSCHILDS TO THE RESCUE ...The company is on the way to fulfilling those conditions with a new $100 million, 5-year, revolving credit facility arranged by Barclays Capital, Bayerische Hypound Vereinsbank, Rothschilds and Standard Bank... Looks like a continuing finger in the dyke situation to me. Would there be any other big dominos falling if the Ashanti hedgebook melted down? What players would be extremely unhappy if the POG rose to $370? Just wondering. John