Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: russet who wrote (2574)	5/9/2002 11:36:58 AM
From: nickel61	Read Replies (2) of 3558

Maybe the reason the articles ignore this "fact" is that it is false, or at least based on your naive interpretation. The only way you can say "?"that 80% of Barricks production in near years excepting the current one gets the spot price because on average only 20% of any future years gold production is currently hedged." Is to assume that they really can wait 15 years to deliver on the hedges...That is absurd..the market is not going to let them and even Barrick management seems to understand that. They produce 6 million ounces a year and they have at least 18 million ounces sold forward. The dumbest rock in the box knows that is at least your next three years of production...Your continued assertion that Barrick's has the ability to get the Central Bank owners to wait up to 15 years to get their gold back is about as solid as Barrick's plans to invest their hedge proceeds in corporate bonds sold them by their bankers JP Morgan. Where in the financials did it mention what corporate bonds they were invested in? So you trusted them to tell you everything? Now which one of us looks like a clown?

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