Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

ABX 8.050

-3.1%

2:12 PM EST

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To: nickel61 who wrote (1468)	11/24/1999 11:31:00 PM
From: Enigma	Read Replies (2) of 3558

You sound like a surrogate for Ted Butler! Gata perhaps? The point about a hedging programme is that the producer locks in the price of the commodity -not all, as Investor-ex points ou. It would be a lucky person indeed who could, at any price, know that the price would go up or down from that point. So even at $250/ounce who was to say the price wouldn't go to $200? The objective is to mine ore at a profit. And this company has gold projects in the wings, and others which have been mothballed, all of which will be put into play when the time and price is right. And Barrick has the ability to participate in the upside should the POG rise - so much of this has been gone over already on this thread and elsewhere. As for the calls - I don't think there is anything new about this - to the best of my recollection they have been doing this for some years. How many I can't recall - but I remember it coming up at an annual meeting quite some time ago. I think Investor-ex has it about right - THC and some others on GPM - the zany ones - read Gata, Butler, and take it as gospel.

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