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Gold/Mining/Energy : Barrick Gold (ABX)

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To: nickel61 who wrote (2033)2/7/2000 4:42:00 PM
From: Enigma   of 3558
 
It's a pity you didn't listen to the news conference or study the transcript. I agree with Bob Johnston - the company is having enormous success in finding more mines in its basic areas of interest - Goldstrike, Pasqua, and Bulyanhula - with resultant quantum leaps in production - Bob's concern is over the sheer amount of new production which will hit the gold market over the next few years - especially from Barrick - which is finding many more mines within these areas. Those who are focused on the hedging with Barrick are fighting the last war - reputable analysts will not be able to ignore the growth of this company, and its capacity to acquire other companies. Listening to the presentation it's not hard to understand why so many hate Barrick - its success is almost crushing, disheartening even.
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