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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Roebear who wrote (12685)	5/20/2002 1:32:14 PM
From: Louis V. Lambrecht	Read Replies (1) \| Respond to of 36161

Roe - NEM hedge book. Info as current as possible, but nothing is straightforward in this market. mips1.net for a table of hedgers. Have a large position in NEM, and been following the comments. These did moved from an "as soon as possible" to a current "best possible way". Very subtile. Normandy hedge was huge. Last NEM quarterly ven showed a profit from hedges. But this was on average selling price of 291. Not many weeks ago, NEM was pricing $30 as was ASA. With ASA above 35, I started to become cautious about NEM. Not considered as a core anylonger. <ng> And NEM starting to get bad press mips1.net Waiting for P. Lassonde to make his show and telling the market how underpriced NEM is on a 12 times expected cash flow. And trade my NEM for another NA unhedged HUI component.