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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (61920)	5/5/2002 3:54:07 PM
From: orkrious	Read Replies (1) \| Respond to of 99280

How about NEM? anyone know if they are unhedged They are basically unhedged. According to the October report of John Doody's Gold Stock Analyst, they have written some calls against fairly higher prices, but it is a relatively small amount. The report isn't that clear, but it looks like that's all of the hedges. ork

To: LTK007 who wrote (61920)	5/5/2002 4:12:04 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 99280

its, Barrick is heavily hedged while Newmont avoided hedges, but they acquired an Australian company (Normandy Mines, with 8 MM ounces of gold hedged), getting them to a hedged state of about a year production (vs three years for the like of Barrick and Placer Dome). At the time, NEM stated that they will unwind that hedge, if they did, they must have taken quite a short term beating...or maybe that unwinding of 8 MM ounce is partially responded (together with increased retail buying in Japan) for the last surge in gold? Zeev biz.yahoo.com