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

To: Robert Dydo who wrote (1143)	10/14/1998 3:59:00 PM
From: marcos	Respond to of 1326

Ok, gotcha - it was actually clear the first time. Here's the wording; "The company has recently financially settled (closed) its gold hedges for net proceeds of $7.7-million (U.S.). William was hedged with put options and forward sales for its remaining 1998 and 1999 gold production." As I read it, they closed them all out, they didn't roll them over to new prices or dates. I guess the put options they would have simply sold. As for the forward sales, 'William was hedged' - past tense. They don't give much detail, and I could be wrong here, but it seems clear to me that they are now completely unhedged. Which is not such a bad thing, if only they could be assured of survival in the near term irrespective of PoG. But I don't think that's true, and I just heard a note of desperation in the whole thing, especially after wim's performance in September. The ENs and the Ks moved first, held their gains longer, and have better relative risk/reward. I dunno, maybe I'm just getting more conservative in my old age, but my bid for wim dropped from .10 to .07, on a smaller lot. With spe, let's just let SB take the point -g- .......... cheers