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Gold/Mining/Energy : Barrick Gold (ABX)
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To: Enigma who wrote (2133)10/3/2000 10:43:23 AM
From: russwinter  Read Replies (1) of 3558
 
The facts about ABX in the first half: They have not been guilty of "accelerated supply". That's to their credit and I don't think they can be pillared for contributing to the malaise in POG in terms of recent history (prior history is another story). But, redemption is a good thing.

However, with prices hovering around 275, I wonder if there is a temptation to start closing out some or most of those 342-350 strike price spot deferred in 2002-2003 (4.2 million oz including the call writes)? The fact that they opened up their upside in 2000-2001 suggests that maybe they might? For an investor looking for a true call on POG rather than a insurance or spread business, this would make me very interested in owning ABX, especially at these prices. I believe such a move would go along ways towards turning their stock price around and capturing the interest of true gold investors.
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