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Gold/Mining/Energy : Gold Price Monitor
GDXJ 97.67+5.0%Nov 10 4:00 PM EST

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To: Enigma who wrote (43349)10/19/1999 9:47:00 AM
From: Ken Benes  Read Replies (1) of 116753
 
Whatever the merits of his letter, abx is performing the worst of all the producers. I suspect abx will no longer be the premier gold company. There hedging programs have not benefited the shareholder and investors are realizing that. Those inclined to invest in gold shares are putting there money elsewhere. The final result, a reduced share price will put limitations on further purchases and mine development using equity. They could further sell their in ground reserves which would further undermine investor confidence in that company.

Ken
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