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Gold/Mining/Energy : Gold Price Monitor

GDXJ 92.08

-1.7%

Nov 3 4:00 PM EST

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To: Claude Cormier who wrote (36031)	6/28/1999 7:29:00 AM
From: David R. Schaller	Read Replies (4) of 116741

Claude, its hard to figure out what Barrick is doing. To the extent that their forward selling and gold leasing has depressed the spot gold price..they have hurt their own shareholders. Who would have thought that a company could have grown so much and been so profitable over the past five years and end up with a share price 30% below what it was in 1994? tscn.com I actually suspect that Barrick see's this period in history as gold's "Darwinian Phase". Survival of only the fittest of gold companies. Opportunities to buy companies on the cheap. Eliminate marginal high cost competition. Reduce production. Reduce supply. Reduce exploration. Reduce financing. All towards increasing their power and influence in the market place. Short term agony for the many..long term profits for the few. Of course, if all this is true...ABX would be the gold stock to hold. But, maybe I'm overly suspicious. Dave

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