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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (7058)	2/24/2006 9:37:27 AM
From: tyc:>	Respond to of 78412

The reference to hedging is made in the following paragraph; (the emphasis is mine) In the fourth quarter of 2005, the Corporation did not reduce its gold forward sales position compared with a reduction 21,750 ounces during the same period of 2004. However, $2,749,000 of the deferred hedging loss set up in the second quarter of 2005 when certain gold forward sales contracts were closed out prior to their original settlement dates was amortized and included in revenue during the quarter. The Corporation’s gold hedging activities reduced the realized price of gold sold during the most recent quarter and the corresponding quarter one year ago by the identical amount of $32 per ounce.

To: loantech who wrote (7058)	2/24/2006 11:58:36 AM
From: dara	Read Replies (1) \| Respond to of 78412

No, they did mention that they paid off their debt and are looking for an aquisition.

To: loantech who wrote (7058)	3/1/2006 1:30:56 PM
From: dara	Read Replies (2) \| Respond to of 78412

I listened to the NGX presentation at BMO's Resource Conference. CEO Ken Stowe mentioned that their current gold hedge is 139,000 oz of gold which was down from 1,000,000 oz that the bank required them to do at the beginning of their project. He said that he expected that they would announce around May of this year how they would handle their remaining hedge. He also mentioned that they had paid off their debt more aggressively than scheduled. events.onlinebroadcasting.com Stay tuned ...