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Ashanti Goldfields Co. (ASL) Message Board

  • molluskman molluskman Aug 26, 1999 12:29 AM Flag

    Whoa here B.S in progress....

    Selling forward gold you will mine is not EVER
    going to be subject to 'margin calls'. ASL has sold
    about 1/2 of forward production. The gold will arrive
    and will be delivered against contracts. Screw all
    the paper gold bullshit, the arguements of which I
    more or less agree with, if you are a producer you CAN
    deliver. As in mine it and send to whoever bought it
    forward. ASL is short gold to be delivered in 1999, 2000,
    2001 etc up to like 2013. IT IS NOT SPOT DELIVERABLE!
    Or on 'margin' to some bullshit paper game. Same
    story with ABX and other companies which hedge. ASL is
    PROFITABLE AT THESE GOLD PRICES AND WILL BE MORE PROFITABLE
    IF GOLD RALLIES. Not as much as other companies per
    dollar advance but STILL IN BUSINESS NO MATTER WHAT
    HAPPENS. Why don't you genuies buy BMG and get some real
    bang for your buck. <$400 gold you lose all,
    >$700 you get a double. Dumb. By the way in and out is
    the only game these days and it is getting old.

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    • I'm going to try this again...I posted it last night but the YAHOO! link police must have deleted it.....

      <<www.kitco.com/GOLD.LIVE.HTML>>

      Best......

    • what poor recommendations they have. i view them
      as a contrarian indicator. they came out with a buy
      after GE trippled in 3 years. now GE is dropping. After
      NITE goes up they make it a buy. Guess again, NITE
      goes down.

    • I can see movement upwards to near $8. Large
      blocks of shares were sold last year at 8 and these may
      be a barrier to movements past 8 or so.
      The
      speculation potential is present. Y2K is near, a
      Merrill-Lynch long term buy recommendation, takeover rumors by
      Anglogold, and good hedge protection should gold not recover
      substantially.

    • company and with auction positive news i bought some insurance on the market. i'm in 1000 shares.

    • do we load up here? It was nice action today.
      'Maybe this time, for the first time, love won't hurry
      away ...' (From Cabaret). Then again we could get
      screwed again. I bought today. I'll probably be sorry but
      'into the breech again'. I'm into the artsy fartsy side
      tonight so how about 'never have so few done so much for
      so little' (okay I changed a couple of words). Good
      luck.

    • ASL is solid and well run. Read the prior posts.
      It's 1/2 hedged for a cushion in case gold goes down,
      but theoretically won't rise as fast as the unhedged
      mines. Do your own research to time your entry. Maybe
      others will respond in more detail.

      Good luck!!

    • The main reason I am thinking about buying a gold
      stock is because of the pending y2k and the downward
      market (because of gold traditionally going up during
      shaky times). Is this good reason enough to buy? and is
      ;ASL a good gold stock to be in for this reason. Why
      else is this stock so great compared to other gold
      mining companies (which by and large seem to be going
      up) ?

    • Thanks for confirming my suspicions. They've done
      blowoff quarters in the past. And they may put it all in
      this one. But I also agree this is all preparing for a
      more profitable company in the very near term.


      Light and flexible indeed. I am preparing for a strong
      rally following the auction tomorrow. Nibbling at the
      edge.

      Check out http://biz.yahoo.com/rf/990919/c0.html. An
      interesting perspective on who the culprit is in keeping the
      price down. Forward sales increase by miners of 220
      tons last quarter. 9 times what the BOE sold. I'm
      pleased with ASL's hedging, but I think it has the same
      impact on the market as short sales by the
      institutions.

      Thanks again and good luck!

    • it ain't good. And I withdraw my .05 call. I'm
      not sure how it will come down on the earnings, but I
      would expect to see 2Mil pulled off of reserves. I'm
      not sure how much they accounted for in the shut down
      of surface operations but it has been bothering me
      for months. It should at least cut costs forward
      since mining at 310 ain't a good game at 256. Light and
      flexible is good in my opinion.

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