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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Activatecard who wrote (227415)	11/4/2009 3:33:02 PM
From: patron_anejo_por_favor	Respond to of 306849

>>Sell El Morro and close the hedge book?<< I think that's one of the options they're strongly considering. But they want to get a good price for it and there's no real urgency to close those hedges until they get closer to the start date for New Afton. In a sense, El Morro acts as a counterhedge against their hedges, sort of a longer term call on Gold and Copper. There are times I wish Metallica (who merged with New Gold last year) had just stayed independent, without all of the additional layers of complexity the deal caused. They'd be sitting on Cerro San Pedro and El Morro without a care in the world, steadily boosting production, the shares would probably be at 15 by now.<NG>