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twilko

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twilko

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Re: Zeev Hed post# 96020

Wednesday, 04/09/2003 9:52:55 PM

Wednesday, April 09, 2003 9:52:55 PM

Post# of 704019
Zeev,

Drooy does not have any hedges. They got out of the hedge business in the summer or fall of last year, and are currently exposed 100% to the price of gold. Their problem currently is the significant short position taken against them, and the strengthening rand to the dollar. That may change.

Terry
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