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Gold/Mining/Energy : William Resources - WIM-TSE -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (1142)	10/14/1998 3:33:00 PM
From: Robert Dydo	Read Replies (1) \| Respond to of 1326

That is my explanation for the first part. They have hedged 160K oz @373(1998) and 150K oz @343(1999). On average 356 per oz therefore if they repurchased the forward sales they would have 15M less other stuff? All sales for the rest of the year and 1999 are at the spot, and for the Option b) they settled at lower price to deliver their 1998 and 1999 Au giving them 7.7M profit for example from average of 356 per ounce to 320 as company found this still profitable level + 7M of liquid funds to help balance sheet. I am watching Steppe. I don't know, it seems more difficult with every day to stay optimistic. Robert