Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: Enigma who wrote (1531)	12/11/1999 10:56:00 AM
From: nickel61	Read Replies (1) of 3558

Ashanti is a very venerable 300 year tradition that has been very badly served by its managers and advisors. And as far as the difference between hedge and forward sales my friend the proof of that is whether or not you can pay the lease rates in order to roll over the loan and make the margin call to buy yourself the time to wait. I'm sure you can look at the platinum and paladium lease rates as well as I can and realize that the interest rate risk might be very high in a short squeeze. I also don't think you really believe that the Barrick management got the better of Goldman Sachs and got the boys at Goldman to be on the hook for both the rollover risk and all the market risk of a significant price rise in the gold market. Markets are acting beyond anything that would have been thought possible as recently as three years ago. Witness the NASDQ at 3600 and Dow at 11300 and the price of oil almost tripling in less than a year. In this enviroment I don't really believe that you don't think you could see a short squeeze take gold over $600 per ounce.After all it was well over that amount nineteen years ago when the US dollar was in one hell of a lot better shape than it is today. Its going to be the best ride of the next thousand years. Get a seat or get screwed! Have a nice day. Cheers From a gold bug who believes gold still has a function which is to point out when our politicains are lying to us by screwing around with the value of our money.

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