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Strategies & Market Trends : Winter in the Great White North -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (7400)	1/7/2008 8:37:41 PM
From: tyc:>	Read Replies (1) \| Respond to of 8273

>>" only that which exceeds PoG du jour, imho," I do agree with you. But I thought that was what the balance sheet item shows. From memory, the hedge was for 400,000 ounces at $800 per oz. If so the total notional value is $320M. I must check ! If the current price of gold were below the hedge price, the hedge would be an asset rather than a liability, albeit an asset that declines as the price of gold rises. (It follows from this that if the price of gold falls in a quarter, profit for that quarter is enhanced and the liability reduced.... and vice versa).