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Gold/Mining/Energy : Gold Price Monitor

GDXJ 128.04

+0.7%

4:00 PM EST

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To: Chispas who wrote (96610)	12/5/2003 5:54:02 PM
From: Chispas	Read Replies (1) of 116860

MORE speculation re. Barrick...(USA Gold) ''''''''''''''''''''''''''''''''''''''''' "..in 2000 we found out that at an average of $340 an ounce gold, Barrick's hedgebook was near "break even". Now with gold at $406 an ounce with about 16 million ounces sold forward, the company is on the brink of failure should gold rise much further because the banks will likely call in for a return of their gold. It ain't coming back anytime soon and this is a secular (not cyclical) bull market that will run for several years. No wonder hedgebook architect and former CEO Randall Oliphant got his walking papers. There are a lot of scared managers at Barrick and for good reason." - Black Blade

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