syama gold mine

not too sure what happened to my earlier post - re rsg, but from the internet, i got the following about the syama gold mine



Randgold Resources (Randgold 75%, Mali Government 20% and the IFC 5%) began production at the Syama Mine, situated 300km southeast of Bamako. Production had been raised at the mine to produce an estimated 270 000 oz/year. Syama has total resources estimated at 6.3 Moz, of which 3 Moz is can be mined using open cast methods. Power disruptions and high rainfall resulted in lower gold production in 1999 from Syama. Syama has been affected badly by the poor gold price, and as a result Randgold has placed the mine on care and maintenance, pending an improvement in the gold price.

from another site, i gleaned the following

Syama purchased put options at 290/oz for half its production from January 2000 to December 2002, and sold call options over 60% of the next five years' production at between 318.75 and 357.10/oz. Syama also had 40 000 oz spot deferred at 281. Morila has 700 000 spot deferred at 262/oz - 35% of the first 4½ years forecast production. Morila should start to mine at the end of next year at 200 000 tons a month. While Syama's hedge position is about 5-million in the red, there are no margin calls.

i am not too sure what to make of all of this.