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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Enigma who wrote (42570)	10/10/1999 10:12:00 AM
From: Bill Jackson	Read Replies (1) of 116759

DD, Barrick hedged with brains. They can always mine and meet the committment, even to the standpoint of expanding production. Cambior thought they were smart and sold more than they can mine and now must buy spot to cover their commitments. These plus and minus players show the hedge operation to be running normally. Cambior took a calculated gamble....and lost...now they may be screwed. Strong players will take the weak over as the liability vanishes....say with Barrick buying cambior....they just ship their own mined product and need not buy a thing. There will be many overly ambitous minig companies broken up/bought out by this gold uptick....which looks like it can be sustained. As for Doug, is is obvious by the volume of his posts that he is a GATA man....I wonder if the opposition can sieze upon his revelations to sue him or weaken the GATA case? Bill

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