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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.44

-1.2%

Nov 14 4:00 PM EST

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To: Enigma who wrote (8588)	3/20/1998 11:13:00 AM
From: Greg Ford	Read Replies (1) of 116762

I never said that Barrick has bought back its hedge book. All I indicated was that hedges placed for 1998 will roll off during the year. These hedges can be replaced but the forward price would be very low due to the low spot price. Therefore most producers are not hedging unless they need to. Peter Munk has said that Barrick will not buyback his hedge book however he and Barrick have been very opportunistic wrt hedging so I wouldn't rule out a buyback in the future. Greg

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