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

To: tyc:> who wrote (52247)	11/6/2007 10:38:55 AM
From: jpthoma1	Read Replies (1) \| Respond to of 78436

It should be common practise, but the word "hedging" is no more popular in mining you know! If you look at Agnico-Eagle last quarterly results, they report a "non-cash foreign currency translation loss of $US25.2 million" which caused the net income to be only $US11,5 millions. I have no time to look at the detailled financial statements, but one should have a look to see if they use currency hedging. But even if they do, who would have predicted a C$ at US$1,08 a few months ago, apart me! ;o) JP