Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: nickel61 who wrote (2792)	5/17/2002 8:42:11 AM
From: tyc:>	Read Replies (1) of 3558

>>current $310/ounce gold spot price already has them underwater then Please explain what you mean by "underwater". They produce gold at a cash cost of ~$150 per ounce, I believe. What does the current price of gold have to do with gold that has already been sold anyway ? It has been sold and the proceeds of the sale are earning interest. How does that put them "underwater"? (I must admit it is a nice emotional term, but what does it mean ?)

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