NCM newcrest mining limited
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ncm to close out hedge book restructure financ, page-4

  1. sushi1
    6,389 Posts.
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    11/09/07
    10:34
    Post #: 2795739
    "Newcrest intends to close out all its gold hedging contracts and gold loan embedded gold forward sales contracts totalling 2,323,642 oz for an approximate cost of $A842 M," said chief executive Ian Smith."

    In other words, the company has managed to throw away close to $1 billion in shareholder funds in gold and copper hedging.

    Can you spell D U M B any other way?
    NCM Price at posting: 0.0¢ Sentiment: None Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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