Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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From: TheSlowLane	12/1/2009 8:04:54 AM
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Barrick Completes Elimination of All Gold Hedges TORONTO, ONTARIO--(Marketwire - Dec. 1, 2009) - All amounts expressed in US dollars Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) announced today that it has completed the elimination of all of its Gold Hedges(1) and now has full leverage to the gold price on the industry's largest gold production and reserves. "Our positive view on the gold price led us to accelerate the elimination of these contracts ahead of the schedule we had established. With their elimination we no longer have any gold price related mark-to-market exposure and will now fully benefit from increases in the gold price," said Aaron Regent, Barrick's President and Chief Executive Officer. "Barrick's gold production and reserves are now completely unhedged and our capital structure has also been simplified," added Aaron Regent. marketwire.com

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