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Gold/Mining/Energy : Barrick Gold (ABX)
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To: Exsrch who wrote (1245)6/5/1999 12:07:00 AM
From: Ron Everest   of 3558
 
<<- ABX has the option to cancel contracts (and pay a penalty); however, they also have the option to defer the CB/GB contract up to 10 years while paying the contractual interest rate.>>

The ABX contact stated that it was not entirely a deferral, but a cancellation with penalty arrangement. I will let this ride for a time and get back to him on that point.

Thank you for your response.

Monday I will take the comments and forward them to ABX for their consideration of inclusion on their web site.

My read is that ABX is a very safe investment with a solid income/production stream. Their future is very bright as these lower gold prices may force out smaller players who are not hedged in this manner. This will allow the larger players to cherry pick the best development prospects.

Thanks for your response,
Ron E
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