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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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From: Wade	9/8/2009 9:28:56 PM
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Game over: Barrick dilutes by $3 billion to buy back gold hedges gata.org TORONTO -- Barrick Gold, the world's biggest gold producer, said on Tuesday it will issue $3 billion in stock and use the proceeds to buy back all of its fixed-price gold hedges and a portion of its floating hedges. Barrick will take a $5.6 billion charge on its third-quarter earnings as a result of the move. ...more JS wrote: Dear Comrades In Golden Arms, I stood in Barrick's head office with the then President Oliphant and another top executive. I had gone to Barrick to make them a cash offer for Kabanga Nickel. Oliphant asked me what I thought about their hedge program. I told him at $305 Barrick was in trouble and at $354.90 he was in trouble. Since then Mr. Oilphant has resigned as president of Barrick. The other executive, still with the company, knows I am telling the absolute truth. I could have saved Barrick all these billions, but that is life. Now listen to me: Gold is going to $1224, then to $1650 and after that to Alf's numbers. Another point I wish to make is that some say Jim knows gold, but that is it. Those people are so very, very wrong! news.moneycentral.msn.com

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