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Gold/Mining/Energy : Gold Price Monitor

GDXJ 113.78

-1.2%

Dec 31 4:00 PM EST

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To: Islander who wrote (3927)	12/7/1997 7:54:00 PM
From: Cascade Berry	Read Replies (1) of 116836

They give you the option to buy the stock at 25 Cdn. until third week in January in year 2000. They are currently at 4.80, with the stock at 23. This means that if Barrick went to say 34 dollars Cdn. by then, they would be around 34-25 = 9 a double from here. That should be enough time to get the central bank selling disposed of. If the stock is under 25 by then, they will be worth zero. You could get more leverage by buying the Jan 30 leaps. I remember the Dome Mines options I once bought going from 4 to 75 in three months (I sold at 6 :( ) so these gold stock options really move fast.

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