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Gold/Mining/Energy : Barrick Gold (ABX)
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To: Dave Lyall who started this subject1/4/2003 9:46:16 AM
From: Enigma  Read Replies (3) of 3558
 
Barrick's problem from a PR angle is that their hedging policy is difficult for the layman to understand and not only the layman - analysts too - so any Tom Dick or Ken can take pot shots with impunity and suggest that the company will unravel if the POG exceeds $350/ounce. This in spite of all reassurances to the contrary. All we can do is see how things work out in practice. The irony for Barrick is that its hedging policy has reaped huge benefits, made it the powerhouse of the industry.
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