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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Snowshoe who wrote (22908)8/20/2002 2:32:44 PM
From: smolejv@gmx.net   of 74559
 
not exactly on target re subject, but close:

mips1.net

>>He outlined the company was now working to make the hedge program simpler going forward, with a target of reducing its variable price sales contracts and call options by 4 million ounces by the end of this year. As at 30 June Barrick's spot deferred position stood at 17.9 million ounces, representing about 22 per cent of reserves deliverable over the next 15 years at an average price of US$344/oz. For the balance of 2002, 50 per cent of Barrick's anticipated production would be sold at an average US$365/oz and the balance at the prevailing spot prices.<<
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