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Gold/Mining/Energy : Gold and Silver Mining Stocks

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To: russwinter who wrote (297)	6/6/2000 2:51:00 PM
From: Enigma	Read Replies (2) of 4051

You're taking 16% of production that's hedged and somehow projecting it into a 100% position - instead of giving the company kudos for prudence. Also I think the call positions were bought some time after the hedge positions were put in place - in response in large part to the questionaire sent to institutional investors. I believe the calls were bought towards the end of last year. And what may be happening in the market place with this stock is that investors are becoming aware that the company's outlook based on total return is excellent - and higher cash flow per share will force the stock up. And one can cull up all sorts of dark thoughts about the other side of these transactions - forgetting that the Barrick team is there to do its extra due diligence. They call the shots - not the dealers as some would have us believe. When the dealers meet with Barrick they are not pulling the wool over the eyes of a bunch of country cousins - hell Barrick has been in on the design of this business from the beginning and selects the other parties pretty carefully. Time to move on?

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