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Gold/Mining/Energy : Gold Price Monitor

GDXJ 120.00

+2.0%

Dec 22 4:00 PM EST

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To: marek_wojna who wrote (85183)	5/7/2002 3:56:51 AM
From: d:oug	Read Replies (2) of 116822

Marek, Gata Bill has answer to that question :o) More indications that Barrick seeks to cover [a short, 23 million ounces of gold] through S.A. acquisition or merger. Dear Friend of GATA and Gold: Last week GATA Chairman Bill Murphy told his subscribers at LeMetropoleCafe.com, in a dispatch shared with GATA supporters, that Barrick Gold had many agents in South Africa seeking to arrange the acquisition of AngloGold. Tonight TheMiningWeb's Tim Wood reports on indications that a merger of Barrick, AngloGold, and Gold Fields is in... [to be a] proclamation of the surrender of the hedgers... [would] move the gold market far beyond the... Barrick's scramble for unhedged gold might attach rockets... Just this morning GATA's friend Doug Pollitt... was quoted by CBSMarketWatch's Thom Calandra as estimating Barrick's short position as 23 million ounces and asserting that Barrick couldn't cover that position if it wanted to. Any bid for unhedged gold in South Africa on the scale being discussed [is] bid to cover. ... do just this. If it comes to pass, he and GATA may take it as more than a little vindication. You can read TheMiningWeb story about Barrick on TheMiningWeb's home page, under the headline, "Gold Fields raid talk persists," here: groups.yahoo.com CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc.

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