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: russet who wrote (2787)	5/17/2002 8:15:20 AM
From: nickel61	Read Replies (1) of 3558

The future gold production committed under spot deferred contracts in our Premium Gold Sales Program totaled 18.2 million ounces at December 31, 2001. This represents approximately 22 percent of proven and probable reserves, deliverable over the next 15 years at an average price of $345 per ounce at the scheduled delivery dates. Fifty percent of planned production in 2002 is committed at an average price of $365 per ounce. The balance of 2002 production is expected to be sold at prevailing spot gold prices. If gold prices, interest rates and lease rates remain at current levels ($290 spot gold), we would anticipate that our realized gold price would be in the $330-$340 per ounce range over the longer term." I take it that the current $310/ounce gold spot price already has them underwater then. By the tune of $20/ounce. This should reduce the average realized gold price on their contracts to about the $310-$315 range. No wonder they are being questioned.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next