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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Abner Hosmer who started this subject	2/16/2004 9:07:16 AM
From: d:oug	Read Replies (1) of 116759

(GATA) Unrealized loss on Barrick's gold hedging nears $2 billion - Date: 2/14/04 From: LePatron@LeMetropoleCafe.com To: SiDougak@xyz.com - Le Metropole Member, - Dear Friend of GATA and Gold: - MineWeb's Tim Wood has an interesting account of Barrick Gold's comments today about reductions in its huge gold hedge book. - Here's an especially interesting excerpt: - "The reductions have been insufficient to stave off ballooning unrealized losses on the hedge book... ... stood at a whopping mark-to-market loss of $1.725 billion, a 42 percent deterioration from the third quarter's negative $1.2 billion and 170 percent worse than for the end of 2002, when the book recorded negative $639 million. - The hedge book would consume almost twice Barrick's end-of-year cash holdings." - You can find the MineWeb story here: trinity.mips1.net Or try this abbreviated link: shmyl.com - Then there is the Reuters story... * CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. * All the best, Bill Murphy Le Patron, LeMetropoleCafe.com Chairman, Gold Anti-Trust Action gata.org

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