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Strategies & Market Trends : Guidance and Visibility -- Ignore unavailable to you. Want to Upgrade?

To: vampire who wrote (58408)	6/19/2002 8:22:23 AM
From: SirRealist	Read Replies (1) \| Respond to of 208838

Gold producers hedge when the price is down, as a price support. When the price goes up, it is a burden, in that the cost per ounce to produce each ounce must factor in the cost of unwinding the hedges. That's why low and no hedgers can run up further: their cost per ounce is lower. BTW, among the larger, more secure companies, GG may have the best production price. And KGC is merging with ECO and another to join the bigs. Some of the smaller ones are explorers w/o profitability that ran on speculation. It's good to know who's who, if you're planning to trade 'em.