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Gold/Mining/Energy : Barrick Gold (ABX)
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To: Enigma who wrote (2458)5/2/2002 9:42:57 AM
From: nickel61  Read Replies (1) of 3558
 
I think if you read closely it is Barrick management that is saying not Pollit that "Barrick says that $483-million swing
in the off-balance-sheet item is mainly a result of the $23 rise in the
price of gold, and it represents 22 per cent of the gold reserves, which
are hedged." Sounds accurate to me...Gold is hedged at fixed price, gold goes from $275/ounce to $310/ounce OUCH!
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