Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: nickel61 who wrote (2973)	5/21/2002 6:29:55 PM
From: russet	Read Replies (1) of 3558

Sinclairs essay rests on two problems with hedging,... So what is wrong with this picture? Two things; 1/ Loss of future earnings. 2/ Counter party failure. Barrick has no risk of counter party failure with the gold lease contracts or written call contracts,...I've spoken to this several times and I guess you can't grasp it. Loss of future earnings for a small fraction of total production, must be balanced against loss of income when you leave gold in the ground for many years without any income being generated. Two problems, eliminated by simple logic.

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