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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: Ken Benes who wrote (72942)	7/8/2001 1:09:50 PM
From: long-gone	Read Replies (2) of 116756

Do you get it now? From the WSJ report: During a conference call to discuss the deal, some Homestake investors also voiced concerns over Barrick's so-called hedging strategy, where the company contracts to sell much of its future gold production at set prices to reduce risk. Hedging has produced hundreds of millions of dollars of added revenue for Barrick over the years. Homestake has hedged some production recently, but the company traditionally has been a favorite among gold bugs seeking to play any price rise. Barrick's Mr. Oliphant said he doesn't plan to raise the hedging position on Homestake's gold production. public.wsj.com

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