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Gold/Mining/Energy : Barrick Gold (ABX)
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To: nickel61 who wrote (2220)3/30/2002 7:58:13 AM
From: Enigma  Read Replies (1) of 3558
 
You jump to a big conclusion here. You're singling out only one executive (Mulroney is an outside director and one would not necessarily expect him to have a stake in the company). For a long time the compensation package of executives has comprised salary, options, and other benefits. Contrary to some opinions executives are not necesarily that well healed. I don't know anything about the Barrick CFO, but he's probably quite young, has a house, young family. He has options in Barrick, but apparently no shares. I wouldn't read too much more into it. When I was an executive of a gold mining company I was in a similar position. Actually I borrowed (a lot of) money to buy the optioned shares and sold them when I thought the market had peaked, and fortunately I was right. AS Zadoc said perhaps the executive is not that bullish on gold - who knows. Being an insider is often a distinct disadvantage - especially when for various reasons one wants to sell, but is restrained because of outsiders' perceptions or being accused of disloyalty to the company. Fortunately that latter slant has all but disappeared because options are regarded as part of the employment package - for better or worse.

Barrick's hedging programme has no doubt contributed to a great deal of exploration dollars for juniors, so there are two sides to the coin.
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