Makes sense to me,...want us to buy, better buy lots more yourself Peter!!!!!!!!!
Globe's Vox suggests Munk buy some Barrick Gold
Barrick Gold Corp ABX
Shares issued 542,000,000 Feb 19 close $24.38
Thu 20 Feb 2003 In the News
The Globe and Mail reports in its Thursday, Feb. 20, edition that Peter
Munk could boost confidence in Barrick Gold by buying some of the stock.
The Globe's Fabrice Taylor writes in the Vox column that Mr. Munk owns only
about 1 per cent of Barrick stock and a little bit more through TrizecHahn.
Mr. Taylor says if you really like gold long term, you can find better
investments. Even with its hedge policy, which Barrick continues to
curtail, the stock price might be higher if investors could have complete
faith in it and, more importantly, in the ability of Barrick's mines to
cover it. The only way to achieve that would be to look at every contract
in Barrick's book, which is not going to happen. Mr. Munk could help
support Barrick's stock price if he trumpeted his own conviction by wading
into the market and adding substantially to his holdings. If he is the de
facto head of the company and he is frustrated by the market's disdain for
the shares, buying Barrick stock would help. Seymour Schulich and Pierre
Lassonde, no fans of hedging, have their money in Newmont Mining. Mr. Munk
should do the same, writes Mr. Taylor. |
