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Gold/Mining/Energy : Barrick Gold (ABX)
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To: loantech who wrote (3301)1/16/2003 9:04:35 PM
From: Bruce Robbins  Read Replies (3) of 3558
 
The interesting things is as russett pointed out only 20% of ABXs reserves are hedged and with the rising price of gold, one can imagine that the reserve number is growing. If ABX does not increase their hedgebook (and I doubt they will do it with the lawsuit on), the % of their reserves hedged will certainly fall. And seeing as they do not have to deliver into the hedges and can take advantage of the spot price, I expect they will make some heads turn with their numbers.
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