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From: John McCarthy	12/1/2009 10:31:07 AM
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Barrick Completes Elimination of All Gold Hedges By Kevin Orland Dec. 1 (Bloomberg) -- Barrick Gold Corp., the world’s largest gold producer, said it has completed the elimination of its gold hedges, giving it full leverage to the price of the precious metal. The change in the value of some gold hedges before they were eliminated will result in a $300 million charge against fourth-quarter earnings, Toronto-based Barrick said today in a statement. Barrick in September said it was eliminating the fixed- price contracts to increase its bet that the metal will gain. The company at the time had sales contracts for 9.5 million ounces that had a mark-to-market position of negative $5.6 billion. Barrick fell 39 cents to C$44.86 yesterday in Toronto Stock Exchange trading. The shares are little changed this year. To contact the reporter on this story: Kevin Orland at korland@bloomberg.net Last Updated: December 1, 2009 08:23 EST bloomberg.com CRACKER

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