Barrick Gold (ABX) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Barrick Gold (ABX)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: nickel61 who wrote (2387)	4/12/2002 7:15:10 AM
From: nickel61	Read Replies (1) of 3558

All Quiet On The Western Front Bobby Godsell, AngloGold CEO, was on CNBC this morning and SAID that Anglo's 5 year hedges were now "less than 40%" of their coming 5 years of gold production. While still enormous, that is down from the 50% number that Calvin Williams so proudly announced at the Cape Town gold conference in early February of this year. At that time, Anglogold proudly announced that they had just increased their hedges to attain that level. Something is going on here and bears very close watching. More to come. December 5 - Gold $273.60 down $1.60 - Silver $4.16 up 4 cents Schizophrenic Madness The Bobby Godsell comments that Chris Powell sent out last night were most extraordinary and I thought very newsworthy as to his hedging remarks. As mentioned in last evening's Midas, AngloGold announced with bravado last February that it was most proud of bringing its hedges UP to 50% for its coming 5 years of gold production. Therefore, a statement such as this from a gold world CEO is significant in my book: "Our company has followed a policy of hedging up to five years of production. We're at about 45 percent now, but for a variety of market-related reasons we want to be less hedged. We are running down our hedge currently." On CNBC Bobby Godsell said that AngloGold's hedges were under "40%." The number one gold producer in the world has suddenly reversed its hedging course of action and is saying so publicly. What kind of signal do you think that sends to the rest of the heavily hedged producers? Are the big time Aussie hedgers paying attention?

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next