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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (3872)	3/3/1999 10:20:00 PM
From: Bill Murphy	Read Replies (2) \| Respond to of 81023

Ron, Double Agents? Ludicruous to the extreme. I am a nobody but thru hard work has built a network of info that is the best I have had in 25 years of being in the commodities business.. To suggest double agent crap is something that a complete bozo would suggest. We are getting info from the highest levels of the gold industry that confirms our thesis. It is very, very gratifying. What is so amazing is that all the info ( not to be disclosed ) says the same thing. Bottom line is this. If gold bolts up big time soon, we are right. To talk of agents bothering with a nobody like me is a joke. Bill

To: Hawkmoon who wrote (3872)	3/4/1999 7:56:00 AM
From: Robert Dirks	Read Replies (1) \| Respond to of 81023

Ron, if you want to find "double agents", look into companies like ABX. These guys sell all of their production (and more) into the market, thereby helping to depress the price, then claim they are the victims of low POG, and claim they are doing everything in their power to bolster the POG. Nothing but B.S. IMHO these guys WANT the POG down so they can grow their reserves by buying out all the struggling and bankrupt smaller producers at next to nothing. Look at what ABX has been doing lately, it speaks volumes. (If ABX is successfull (a good chance), their stock will be in the clouds eventually)....... Regards

To: Hawkmoon who wrote (3872)	3/4/1999 10:56:00 AM
From: Stephen O	Respond to of 81023

Quite a few producers have covered their hedges and have not sold forward. The selling forward helps the big boys like ABX, keeps their execs in high paying jobs and stock option profits, allows them to buy other companies. ABX has sold forward what 10 years worth of prodn. Somebody bought that gold, heaven help the shorts when the juggernaut turns.

To: Hawkmoon who wrote (3872)	3/4/1999 1:42:00 PM
From: long-gone	Read Replies (2) \| Respond to of 81023

<<I certainly don't think I would be selling forward 3 years unless I was pretty sure those options would never be exercized by the other party.>> Ron, Before you start talking about hedging and forward sales you might wish to fully understand the workings of the practice. Please review this from one of my holdings. << The company not only used hedging to manage its revenues but also to raise cash. A repurchase of 250,000 ounces of gold forward sales in early 1998 generated $8.7 million in cash. ... With the company's current gold hedge position, Echo Bay will realize a minimum average price of $349 per ounce for approximately 429,000 ounces in 1999 -- over 90% of 1999's planned gold production. Of this, over 35% is in the form of put options, Above the strike prices (ranging between $300 and $311 per ounce). Approximately 5.2 million ounces of the 1999 planned silver production is also currently hedged and will realize $5.76 per ounce. >> Key here is "allowing for participation in gold price rallies". rh echobay.com