finally some good news, page-5

announcement - good news - for henrik If you are wondering why the surge in the USD / AUD gold price was not reflected in the GYM share price, I suggest you look at GYM's hedging situation - they have sold forward over 100,000 oz for the next 18 months at AUD530. Last quarters cash costs were good, but total costs were as I recall AUD480 an oz - giving a EBIT margin of 50 bucks. I estimate my main gold holding, BSG, has a EBIT margin of around 280 bucks at current (AUD580) spot price.

angus