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Daily Dispatches
Bullion banks can''t nail us as they can Newmont, Barrick declares
Submitted by cpowell on Fri, 2003-03-07 03:00 Section: Daily Dispatches4:57p ET Friday, March 7, 2003
Dear Friend of GATA and Gold:
Thom Calandra's quot;Stockwatchquot; column at CBSMarketWatch
today examines the growing likelihood of inflation
and quotes GATA Chairman Bill Murphy at length, as well
as Legg Mason Wood Walker analyst Barry Bannister and
Bob Bishop of Gold Mining Stock Report. You can find
Calandra's latest here:
a href=http://cbs.marketwatch.com/news/story.asp?http://cbs.marketwatch.com/new...
Troubled Newmont mine''s awful hedge terms may not be so common
Submitted by cpowell on Fri, 2003-03-07 03:00 Section: Daily Dispatchesa href=http://www.webfin.com/en/news/news.html/?id=31666http://www.webfin.com/e...
TORONTO, March 7 (CP) -- Barrick Gold Corp. reassured
investors Friday that it won't face a hedging disaster
similar to one unfolding at major competitor Newmont
Mining Corp.
A blowup for Newmont, the world's biggest producer, has
sparked fears investors will shy away from other producers
Morgan, Citigroup offshore deals propped up Enron, report says
Submitted by cpowell on Thu, 2003-03-06 03:00 Section: Daily DispatchesNewmont's hedge book bites back;
Yandal worth more dead than alive
By Steve Maich
Financial Post (National Post), Canada
smaich@nationalpost.com
March 4, 2003
a href=http://www.nationalpost.com/search/site/story.asp?id=2E027DDE-4401-http:...
49AF-85ED-980113D219CF
After months of wondering what nasty
surprises might be lurking in the hedge books
Buffett warning about derivatives sparks interest in gold
Submitted by cpowell on Tue, 2003-03-04 03:00 Section: Daily Dispatches1:19a ET Sunday, March 2, 2003
Dear Friend of GATA and Gold:
Barrick Gold's lagging share price and Blanchard
amp; Co.'s antitrust lawsuit against Barrick and J.P.
Morgan Chase for manipulating the gold price made
a big story in today's New York Times, which is
appended here.
Note particularly the description in the Times story
of Barrick's quot;spot deferredquot; forward sales of gold,
Overhedged Newmont mine, acquired from Normandy, is worth more dead than alive
Submitted by cpowell on Tue, 2003-03-04 03:00 Section: Daily Dispatches1:50p ET Tuesday, March 4, 2003
Dear Friend of GATA and Gold:
Thom Calandra's latest commentary at CBSMarketWatch
examines Warren Buffett's new warning about stocks
and derivatives and the implications for gold. You
can find the Calandra commentary here:
a href=http://cbs.marketwatch.com/news/story.asp?guid=%7B0805DBD3%2DF460%http:/...
New York Times examines Barrick''s hedging and Blanchard''s lawsuit
Submitted by cpowell on Sun, 2003-03-02 03:00 Section: Daily DispatchesBush may tap Depression-era fund to aid Turkey
a href=http://reuters.com/financeNewsArticle.jhtml?http://reuters.com/financeNe...
type=bondsNewsamp;storyID=2308692
By Adam Entous
WASHINGTON, Feb. 27 (Reuters) -- U.S. President George
W. Bush may dip into a Depression-era emergency fund for
a short-term loan to Turkey as he presses for access to
Turkish bases for a possible attack on Iraq, administration
Another administration uses ESF as slush fund to bypass Congress
Submitted by cpowell on Sat, 2003-03-01 03:00 Section: Daily Dispatchesa href=http://biz.yahoo.com/rb/030228/financial_japan_jpmorgan_6.htmlhttp://biz...
TOKYO, Feb. 28 (Reuters) -- Japan's financial regulator
said on Friday it had ordered the brokerage unit of J.P.
Morgan Chase amp; Co. in Tokyo to suspend stock trading on
its own account for 10 business days from March 3-14.
The penalty against the Tokyo office of J.P. Morgan
Japan punishes Morgan Chase for manipulating bond prices
Submitted by cpowell on Fri, 2003-02-28 03:00 Section: Daily Dispatches12:10p ET Wednesday, February 26, 2003
Dear Friend of GATA and Gold:
MineWeb today has an important news story by Tim
Wood disclosing some fascinating details of Newmont
Mining's hedging agreements with bullion banks. The
story suggests that bullion banking is under great
pressure and that Newmont is prepared to walk away
from a rich mine and leave it in bankruptcy if its
counterparties press too hard.
Gold hedging brinksmanship at Newmont
Submitted by cpowell on Wed, 2003-02-26 03:00 Section: Daily DispatchesNewmont says hedge book fell in 2002
a href=http://biz.yahoo.com/rm/030224/minerals_newmont_2.htmlhttp://biz.yahoo.c...
NEW YORK, Feb. 24 (Reuters) -- Newmont Mining Corp.,
the world's largest gold miner, said on Monday that its
gold hedge book fell sharply from last year and that it
will release its 2002 financial results after the U.S.
Securities and Exchange Commission concurs with
Newmont reports sharp reduction in hedging
Submitted by cpowell on Mon, 2003-02-24 03:00 Section: Daily Dispatches9:25p ET Saturday, February 22, 2033
Dear Friend of GATA and Gold:
Don't miss the great new commentary by Tocqueville
Gold Fund manager John Hathaway just posted at
Gold-Eagle, titled quot;Beyond Iraqquot;:
a href=http://www.gold-eagle.com/editorials_03/hathaway022403.htmlhttp://www.go...
CHRIS POWELL, Secretary/Treasurer
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