"Where does the $140/oz take over price come from? I’m surprised at how conservative analysts are right now in valuing takeover targets.  $140/oz based on $550 gold is a year out of date and way behind the price curve.   With gold at over $900 you can currently sell gold four years out at $750+/oz.   A year ago you might have been able to get a long hedge at $400 or $450.  It doesn’t take much to figure out that a Major could totally eliminate their downside if they wanted to hedge long.   BUT, seeing as how several Majors are paying well over $300/oz to close out their hedges (when you locked in at $450 and have to close out your hedge book at $750+ it HURTS) they have to believe gold is going north of $750 in the long term."

Been There 

Your numbers are confusing me.  Today you can buy or sell in the futures mkt. Comex

Feb./09 at $940.

June/10 at $980.

June/11 at $1,015.

June/12 at $1,050 

How do I plug these numbers into the ones quoted above.

What is it that I am missing?

Joltin