Wrong about what,...Nuckel and you assert Barrick's hedges will self destruct and Barrick will go bankrupt, yet you provide no evidence that they will. Barrick says they will make more cashflow and profits in a increasing POG environment, and simple calculations confirm this. Nuckel and you continue to say Barrick will go bankrupt and refuse to read the financial statements of Barrick in which they explain their forward selling program and the risks associated with their operation.
I continue to wonder how you can come here and argue anything with me, when you refuse to read Barrick's financial statements where the forward selling program is explained. Too easy I guess to read a 2 page fantasy essay filled with gossip, than to read a 102 page financial statement filled with the facts.
Barrick still has high cashflows, the balance sheet is still the highest rated balance sheet in the gold mining industry, their is lots of low cost reserves to mine, they have no net debt, their forward selling will not force them to go bankrupt, and they may just buy those little juniors that you and I say we are making so much money on... unless inflation drives the cost structure of mining and processing the ore so high that costs exceed $345 per oz,...and the price of gold fails to go much above $345 per oz, in which case Barrick will have the rest of the gold industry to keep them company. |
