Adrian Day rates miners by their hedge books

Section:

12:45p EST Sunday, November 21, 1999

Dear Friend of GATA and Gold:

Ted Butler, who often comments on the precious metals
markets, has posted an important essay at www.Gold-
Eagle.com. It makes a strong and documented case that
some major gold mining companies have been swindled by
their bankers and that the shareholders of these companies
essentially have been expropriated. It's must reading and
confirms GATA's analysis. You can find it at:

http://www.gold-eagle.com/gold_digest_99/butler112299.html

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