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Gold/Mining/Energy : Barrick Gold (ABX)
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To: jack BROSS who wrote (1404)1/12/2000 11:32:00 AM
From: nickel61  Read Replies (2) of 3558
 
Mr. Bross Barrick's real cost per ounce is $305 not $180 or anything near it. So your estimated profits are way off. You have forgotten the cost of capital investment, exploration and acquisition costs as should be included in a calculation of all in total cost. Take reported profit and divide it by number of shares and then subtract this profit ($95 US)from the average realized gold price for 1999 of $400/ounce thus you will see that the gold they produce actually costs them $305/ounce. A pretty big difference.
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