Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: russwinter who wrote (2020)	2/7/2000 9:03:00 AM
From: Enigma	Read Replies (1) of 3558

Of course the Kansas wheat farmer faces the peril of weather - extended droughts, etc., I guess the gold producer faces perils too but with mines all over the world there is geographic protection. But I think the crop analogy breaks down as farmers deal with one year at a time and usually hedge at the time of annual planting I believe. I think it's correct to say that Barrick started hedging when it brought Goldstrike into production. There have been a lot of imitators of the Barrick system as it has evolved and my impression has been that many of them haven't got it right - or haven't acted with consistency or conviction. Strange too that the Barrick Team (small in number I hear) hasn't been headhunted successfully - or at least a key individual - but I guess they are well compensated. On the other hand you'd think that some of Barrick's advisors and intermediaties could advise other producers with some knowledge of how Barrick does it. I do believe that the PDG announcement on Friday may have been brought about by chill caused by the lawsuits against Cambior and Ashanti. But the key there will be - did those managements issue misleading statements about their programmes?

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