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

To: d:oug who wrote (85421)	5/16/2002 4:28:10 AM
From: d:oug	Read Replies (2) \| Respond to of 116815

More excellent journalism at TheMiningWeb.com ================================================ Warning Warning Warning Warning Warning Warning Warning ================================================ Click below url for access to this story, but be warned that the source is GATA, a civil rights and educational organization under U.S. Internal Revenue Code, and contained at article's end is a solicitation. So please Next now or visit the url and be careful not to view the bottom of article if you find such harmful. ::: groups.yahoo.com

To: d:oug who wrote (85421)	5/18/2002 6:43:43 AM
From: d:oug	Respond to of 116815

Texas size GATA Bonanza to stress The Gold Cartel or ... a warning to Newmont Mining The danger of gold derivatives is tonight's topic. Stirring the pot(s) in gold producer land. ... executives of gold producers fired as company is sued or The past 48 hours, a bonanza for gold bulls and GATA. or ha ha ha gaaaa zooooon too tight does NOT "get it" but then, he never did and never will : UIUO - Main Event at Gata Bill's LeMetropoleCafe : Jim Sinclair’s letter to Newmont Mining’s Ron Cambre is stirring the pot all over gold producer land. Copies were sent to other gold producer CEO’s and CFO’s from attorneys, pension fund managers, etc. The gold producer executives must respond. First, they have to find out what to say. Questions posed by Jim are highly technical. These gold producer executives have to respond truthfully. If their response is not correct and their hedge book blows up, they will be fired and the company sued. If they take no action and their hedge book blows up, they will probably be fired and the company sued. The GATA Army is an intense factor in today's gold market created just a few short years ago to put pressure on a Gold Cartel. groups.yahoo.com ... James Sinclair, chairman and CEO of Tan Range Exploration, a legend in the gold business, a great friend of GATA, and a shareholder in Newmont Mining, has written an open letter to Newmont Chairman Ronald Cambre, warning about Newmont's possible exposure to derivative risks. : Sinclair's letter is appended here. CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. * * * JAMES SINCLAIR'S LETTER TO NEWMONT MINING May 15, 2002 Ronald Cambre, Chairman Newmont Mining Corp. Denver, Colorado Dear Mr. Cambre: Allow me to introduce myself... ... have written three books on commercial metals, precious metals, and economics. ... am also enclosing an article from Forbes magazine written in December 2001 reviewing my career in gold. ... prior to 1989 was the owner and operator of metals trading, commodity clearing, and metals arbitrage group firm known as the Sinclair Group. Some consider me a leader in the understanding of the economics and markets for gold. The reason for my letter is to alert you to certain characteristics of the present hedging market in derivatives that might not have been outlined yet to the head office of Newmont. I am one of the few who have hands-on practical knowledge of the derivative market... As a stockholder of Newmont I believe that we need to expunge all those derivative contracts from our books immediately. ... the new financial management of the major gold producers sits smugly quiet as they march into a total disaster for themselves, their shareholders, and our industry as a whole. Please demand hard answers from trusted members of your staff on the following questions concerning your recently acqui red derivatives. They will take the cloak of disguise off the instruments you now own. I do not believe you will like what you will see. : 1. What percentage of the funds... 2. In derivative contracts with derivatives dealers... 3. Have we dealt with a well-known... 4. Is the subsidiary of the investment or commercial bank... 5. If we have dealt with a subsidiary of... 6. If we have dealt with a substantive... 7. Can we trade the entire transaction... 8. Assuming we used leased gold contracts... 9. Regarding the hedge instruments: _A) Were all the trades transacted... _B) Is there a regulatory body presiding over... _C) Are the prices of these instruments in the public... _D) Was the price of these instruments determined by... _E) Is there an open market for each leg... 10. Regarding legal considerations: _A) Are you familiar with the legal precedent set... _B) Are you familiar with the legal precedent concerning... : Sir, a disaster is in the making, therefore please get Newmont out of harm's way. : Sincerely yours, James Sinclair, Chairman Tan Range Exploration Sharon, Connecticut