Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: russet who wrote (3466)	12/2/2003 4:38:58 PM
From: Ken Benes	of 3558

As the price of gold continues to rise beyond the price barrick received for the forward sale, there is a cost to maintain the options necessary to offset their short position. It is interesting to note that barrick was on the vanguard of being on the short side of gold when it was declining in price and now with the price of gold rising, they are johnny come lately to abandoning their forward sales policy. I just wonder, if they will again be on the wrong side of the market. The markets are certainly skeptical of barrick which is reflected in its share price. Ken

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