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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: gold$10k who wrote (17016)8/18/2003 11:04:06 AM
From: TheBusDriver  Read Replies (1) | Respond to of 39344
 
I know you trade by the charts and probably will not be interested in this hedging by APG:

"In the fourth quarter of 2002, the Company entered into hedging contracts for 100,000 ounces of gold involving the use of combinations of put and call options with a put option strike price of $295 (U.S.) per ounce and a call option strike price of $345 (U.S.) per ounce. These contracts expire over a three-year period and have been designated as hedges of future gold production. The contracts were entered into as a requirement of a short-term funding arrangement and it is the Company's intention to otherwise remain unhedged."

Clearly if you want to borrow cash the banks are still going to force hedges on you....

Production stands at 25k oz and is susposed to ramp up to 100k this year. Donno if they are on target or not. Cost is fairly high at $313 per oz....

Wayne



To: gold$10k who wrote (17016)8/19/2003 12:43:49 AM
From: Step1  Respond to of 39344
 
VT, thx for the response. I see how you draw the triangle, from the low at 5.43 to the top line running accross and with the recent high at 7.75, so you make an ascending triangle, I was doing TA on a much smaller time frame, and had a symetrical triangle instead. Many ways to skin a cat, the rest of my bids for IMG are at much much lower levels where I believe there is support to be found. Never a sure thing.

regards

Step1


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