Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: Activatecard who wrote (2573)	5/9/2002 9:50:27 AM
From: nickel61	Read Replies (1) of 3558

More from those GATA stooges at MiningWeb.com! While the reduction in call and variable price sales contracts will reduce that sensitivity, the overall short position remains extremely large at $21 million ounces, or 3¾ years of output. If the gold price holds at current levels or rises further, analysts are sure that Barrick will act again to reduce its hedging exposure. Should gold rise to $350 an ounce, it is estimated that Barrick's mark-to-market would be a negative $1 billion, more than its cash reserves.

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