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Gold/Mining/Energy : Gold Price Monitor
GDXJ 121.59+2.2%Dec 26 4:00 PM EST
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To: long-gone who wrote (89805)9/20/2002 11:39:03 AM
From: Jim Willie CB  Read Replies (1) of 116825
 
if Barrick reduces their hedgebook by 15-20% this year,
and again next year

but gold spikes to #500 by end 2003

Barrick is history, bankrupt

the key is not the direction, but the magnitude of the movement in that direction

if JPMorgo reduces their derivative monster by 5-10% per year,
their exposure is not changed much

Barrick will be the first casualty in the Great Gold Game
every $10 move in gold means $125 million in losses for ABX
(if my mammory serves me)
/ jim
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