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Gold/Mining/Energy : Barrick Gold (ABX)

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To: tyc:> who wrote (2801)	5/17/2002 12:34:00 PM
From: goldsheet	Read Replies (1) of 3558

Agreed. A forward sale locks in the price of a commodity at a fixed price at a fixed point in time. Unless you are a speculator and have to go to the market to close the contract, the market price is a moot point. As a producer, with cash costs well below the forward price, you have already done the IRR calculation with known numbers, making a forward sale more like insurance than a gamble.

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