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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: russet who wrote (48460)	2/7/2000 7:04:00 PM
From: IngotWeTrust	Read Replies (4) of 116759

Yo'Russet...just what is it that ABX said today that makes you so certain ABX is now acquiring naked long gold calls? Have you forgotten they are at least 3 call-writes for each long put...and that is just the "average producer" deriv strategy...who knows how many lockouts and double no-knocks ABX has on? That means they have to buy back 3 for every one they've written just to get "normally" flat. Making that categorical statement in your post makes no more sense to make that kind of announcement or extrapolate that from what I'VE read today, than it did for ABX to shoot themselves in their shareholder foot by their lease/shorting games in the first place!!! Look at their stock price fer goodness sakes. Two things are wrong with your rosy scenario... A If ABX was all that profitable, why is their stock in the tank? B And if all they had to do was "write calls" and send beaucoup "POG RALLY bucks" direct to their bottom line, then why did they announce a dramatic, percentage wise increase in their annual production, and have been busy highgrading their various ops to reduce costs per oz while they are at it? And those who say it is impossible for ABX or anyone else to "high grade" an open pit/heap leaching gold operation haven't seen their head in a long time...because it is so far up their a&&, it's too hard for them to see anything!!! Sure hope it wasn't any GPM friends of mine that made that dumb statement!<ggg> Otherwise, your two cents are fun to read... O/49r

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