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To: goldsheet who wrote (95548)	7/1/2003 6:30:25 PM
From: jrhana	Respond to of 116752

I imagine NEM despite bullish pronouncements was actually expecting POG to hover around $300 for a few years letting the hedges more or less die a natural death.

To: goldsheet who wrote (95548)	7/2/2003 1:26:05 PM
From: goldsheet	Respond to of 116752

stockcharts.com Look at weekly chart Declining tops: 89.11, 82.89, 82.69 Ascending bottoms: 49.23, 54.67, 58.73, 62.08 Getting interesting. If we do not breakout to the upside soon, we might re-test the other side ? (XAU 68-70)

To: goldsheet who wrote (95548)	7/7/2003 7:39:09 AM
From: IngotWeTrust	Read Replies (1) \| Respond to of 116752

time will tell...however, 40c on the dollar or you get nuthin'...is a pretty good gambit. If you recall, Yandall and al were discussed at the time of take out of normandy as meeting the very fate to which they are currently being meted. I do not agree that NEM is not walking their walk. Banks foreclose all the time, such as the headlock Ashanti went through after they bit the bullet and it took 15 int'l banks swapping terms for a chunk of real estate. Just because we don't know NEMs end game just yet, doesn't mean NEM isn't "walking the walk." They are just using a play from the playbook that isn't customarily "called in from the sidelines" on 1st and 10. I personally am as fascinated seeing this "playbook play" as I've been watching the Ashanti story unfold all these years. NEM had no "obligation to shed hedges under $300" as you suggest they "should have." The FACT they did not do so, should indicate another strategy was afoot, albeit the current 40c on the dollar strategy currently on the table with the counterparties. Frankly, I'm a current admirer of NEM and continue to be.