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Gold/Mining/Energy : NORTHGATE EXPL (NGX.TO) -- Ignore unavailable to you. Want to Upgrade?

To: E. Charters who wrote (59)	6/23/2002 12:13:14 PM
From: tyc:>	Read Replies (1) \| Respond to of 158

You seem to be so concerned with remote possibilities of disaster. Hell ! What if there were an eathquake in the Toodogone region. I suggest that the stock market is far too risky for you EC. This all hinges on whether the Bank of England (etc) is going to call in its gold loans ! Hah ! But even if it does the question remains; Will NGX hedges be honoured and will NGX receive payment for its gold at the pre-arranged price ? Of course it will. So its hedges will have been profitable. And what about its non-hedged production ? and the value the market puts on its unhedged reserves ? Please quit jousting at windmills.

To: E. Charters who wrote (59)	6/23/2002 12:25:04 PM
From: tyc:>	Respond to of 158

>>Are you saying that Northgate got its money completely unsecured Please tell me what I said that led you to this conclusion. On the contrary, I said that Northgate's margin requirements are guaranteed by Brascan Financial. (Just typical of you to imply false statements to others). "Northgate got its money"... I keep telling you that Northgate did NOT get its money. It has been invested by the bullion bank to ensure it will be there when NGX produces the gold. Of course the BB needs protection in the face of fluctuating gold prices. That's why there are margin requirements. And these are guaranteed by Brascan Financial (at a commercial price to NGX).