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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Mannie who wrote (19400)	5/21/2003 9:18:43 AM
From: Jim Willie CB	Respond to of 89467

Newmont CEO Wayne Murdy interviewed on CNBC 4 factors are pushing up gold (when asked how high gold can go?) - declining USDollar - low interest rates in USA - world gold production in decline - reversal of hedging strategy they covered $50M in their hedgebook these were forward contracts assumed by acqn of Normandy (nothing new there) $10 increase in gold metal price means 10 cents/share rise in earnings still the major mine is the Nevada property in Carlin Trend production is dropping they have some successful drilling in the general area their properties extend to Peru, Indonesia, Australia, Ghana / jim

To: Mannie who wrote (19400)	5/21/2003 9:43:45 AM
From: Jim Willie CB	Respond to of 89467

Newmont CEO Wayne Murdy interviewed on CNBC 4 factors are pushing up gold (when asked how high gold can go?) - declining USDollar - low interest rates in USA - world gold production in decline - reversal of hedging strategy they covered $50M in their hedgebook these were forward contracts assumed by acqn of Normandy (nothing new there, but it brings up a major point of mine -- that hedgebook covering drains cash from operations -- notice their Nevada production is dropping) $10 increase in gold metal price means 10 cents/share rise in earnings still the major mine is the Nevada property in Carlin Trend production is dropping they have some successful drilling in the general area their properties extend to Peru, Indonesia, Australia, Ghana / jim