Global Gold Hedge Book Q1 2006

• Q1 2006 Hedge Impact declines 5.0 Million Oz to 48.2 Million Gold ounces.
  
• The global gold hedge book declined was the largest seen for three years, and comes after a period of slowing dehedging.
  
• The decline was almost all due to Barrick (ABX) dehedging (4.7 Million Gold ounces).
  
• 2006 dehedging forecast revised to 11.7 Million gold ounces.
  
• The Global Gold Hedge Book prepared by Mitsui Global Precious Metals , Haliburton Mineral Services & Virtual Metals Research. - link