Zeev's Turnips Patch-No Politics (ZEEV)

[ItsAllCyclical]

Regarding NEM the market has already announced it's answer with regards to NEM. Has NEM been following ABX and PDG which are heavily hedged? Or has it traded more like HGMCY, KGC, etc.

As far as springing their hedge book on people unexpectly, come on. When they announced their merger everyone knew about the hedging they were acquiring then, but that over time they would close the hedge book.

Just as important and NEM's current hedges is it's committment to becoming completely unhedged. In many ways NEM started this whole gold rally though it's merger forcing ABX and PDG to follow suit in buying back their hedges.

I don't think you give NEM enough credit.