Ya think? Newcrest contemplates end of gold, copper hedges

Section:

5:36p ET Tuesday, March 20, 2007

Dear Friend of GATA and Gold:

MineWeb reports that Australia's Newcrest Mining Ltd. says it's not likely to do any more hedging of its gold and copper production. The company's CEO, visiting financial analysts in North America, is quoted as remarking that Newcrest's hedging has been "constraining" the company's earnings.

The financial analysts in his audience may be able to respond only as the guys in the Guinness commercials: "Brilliant! Brilliant!"

Of course maybe a little too much Guinness explains all the hedging Newcrest is stuck with.

You can find the MineWeb story here:

http://www.mineweb.com:8080/mineweb/view/mineweb/en/page16139?oid=16408&...

Or try this abbreviated link:

http://tinyurl.com/38vohh

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Help Keep GATA Going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at www.GATA.org. GATA is grateful for financial contributions, which are federally tax-deductible in the United States.