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Ya think? Newcrest contemplates end of gold, copper hedges
5:36p ET Tuesday, March 20, 2007
Dear Friend of GATA and Gold:
MineWeb reports that Australia's Newcrest Mining Ltd. says it's not likely to do any more hedging of its gold and copper production. The company's CEO, visiting financial analysts in North America, is quoted as remarking that Newcrest's hedging has been "constraining" the company's earnings.
The financial analysts in his audience may be able to respond only as the guys in the Guinness commercials: "Brilliant! Brilliant!"
Of course maybe a little too much Guinness explains all the hedging Newcrest is stuck with.
You can find the MineWeb story here:
http://www.mineweb.com:8080/mineweb/view/mineweb/en/page16139?oid=16408&...
Or try this abbreviated link:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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