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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

Nov 12 4:00 PM EST

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To: GST who wrote (48405)	2/7/2000 4:34:00 PM
From: goldsheet	Read Replies (2) of 116756

Here is what I don't get: Placer Dome loads up the hedge book in September near the highs, then last week annouces they will not hedge anymore . They do not even reduce their hedges. The markets love them, gold goes up $22 Barrick maintains a long-term consistent program, doesn't pack the hedge book in September, anounces they will not add to hedges, actually cuts their hedge book by 50% and cuts the calls by 50%, market hates it, gold goes down. Barrick now has a LOWER percentage of production and reserves hedged than Placer. Placer get roses, Barrick gets dead flowers. Folks just either just hate Barrick and/or are unable to read a news release.

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