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To: Broken_Clock who wrote (216244)1/23/2003 2:44:14 PM
From: yard_man  Respond to of 436258
 
naw -- just ABX up.



To: Broken_Clock who wrote (216244)1/23/2003 2:48:39 PM
From: Tommaso  Read Replies (1) | Respond to of 436258
 
Where's the news about buying back the gold?



To: Broken_Clock who wrote (216244)1/23/2003 2:55:40 PM
From: Tommaso  Read Replies (1) | Respond to of 436258
 
OK I found it. But they will be delivering 4 million ounces that they could have sold at maybe 120 million dollars more than what they are getting if they had not hedged (I have not looked up the actual figure at which the hedge was established). Now that doesn't hit the company all that hard, but I'd still rather be in a company that is getting full benefit of every rise in the POG.



To: Broken_Clock who wrote (216244)1/23/2003 3:11:10 PM
From: Activatecard  Read Replies (1) | Respond to of 436258
 
they need to reduce those hedges big time. At $347 spot this quarter, ABX mark to
market derivative loss should top 700 million versus 301 million loss at 324 spot last quarter.
At $400 spot, the loss could exceed 1.5 billion. Hope they don't have continued production problems -g-