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 (2982)	5/21/2002 8:12:14 PM
From: nickel61	Read Replies (1) of 3558

Well now my friend you have admitted that you are fully aware of what they are doing. The sale prices they claim they have are really just projections of the various hedge contracts that they might decide to close the short sales at, if and when they are profitable. What the significance of the Anglogold and Newmont and Kinross actions are is that the industry has already had enough of selling their product at a cost lower then their production cost. They are sick of having their best and only assets sold for a fraction of what they are worth so that the derivative players can make money on their gold carry trade investments and Barrick can claim that their strategy is somehow adding value by driving the gold price lower. They are covering. And soon they all will be covering. Newmont has little choice, nor do the Austrailians, the Canadians, the South Africans, the rush has started and the squeeze is already in place. The only question now is who implodes first. The game has changed and now the hunters are the hunted...$365/ounce gold will be here soon and it will still be $50/ounce below the level at which even the most adventurous claim they can bring on significant new production.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next