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Gold/Mining/Energy : Corner Bay Silver (BAY.T) -- Ignore unavailable to you. Want to Upgrade?

To: TheBusDriver who wrote (3790)	4/10/2002 12:49:01 PM
From: Paul-D	Respond to of 4409

OT : Newmont to "aggressively" reduce hedges! 10 Apr 2002 18:24 AngloGoldsays "aggressively" reduces hedges JOHANNESBURG, April 10 (Reuters) - South Africa's largest gold producer AngloGold said on Wednesday it was "aggressively" running down its hedge book because of market conditions and a strong bullion price. "We've continued to manage our hedge book aggressively and we are taking out the weaker positions in the hedgebook right now so that going forward we don't have a long period when we will be receiving lower prices, or incurring an opportunity loss," said AngloGold Financial Director Jonathan Best. "We haven't changed our hedging policy per se, but market conditions at the moment dictate that we are running down our hedge book and we have been for a little while," Best told Reuters. AngloGold closed 1.7 million ounces in its hedge book in the last quarter of 2001, leaving it with a hedge book of 14.6 million ounces. Best said more details of AngloGold's hedging position would be unveiled at its March quarter results on April 30. ((--Allan Seccombe, Johannesburg newsroom, +27-11 775-3155 fax: +27-11 775-3132, e-mail: newsroom@reuters.co.za))