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.
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
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.
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
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
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.
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
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
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
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.