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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Little Joe who wrote (21306)	10/9/1998 7:10:00 PM
From: Edmund Lee	Read Replies (3) \| Respond to of 116764

NEM CEO Ron Cambre said today of cutting down production by under 4% due to low gold price. "We don't mind leaving ounces in the ground at $300 gold". He also expected gold prices to rises and that is why he said the company remains "largely unhedged". Well, if gold price go up as we have expected, NEM will make more money because of its unhedged position and shareholder will be benefited. However ABX have a large hedged position around $400. If gold rises above that price, all profit will belong to the buyer. In the past 2 trading days, gold rises in Far East and Europe but get hammered as soon as US start trading. Lets see what happen next week.