Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: The Fix who wrote (677)	9/2/1998 12:53:00 AM
From: keith massey	Read Replies (3) of 3558

Fix I hate to agree with you but you may be right. The way the big boys have cut cost and placed hedges many of them can keep producing gold down to the $220 level with profits. Gold has lost a lot of its glitter along with its value. My question is - what happens when the hedges run out. You can only have a $400+ price locked in for so long. Out of any of the producers ABX is probably sitting in the best position. With a mine which will produce 750,000 o/y at $50 a ounce starting this year they can produce for several years at a good profit. However we may see lower P/E ratios on gold stocks due to the uncertainty of future profits. Gold will see several short lived rallies in the next year with the instability in the markets. ABX will be a great stock to own during these periods. However, until I see a true gold rally I am only a watcher other than the occasional day trade. Best Regards KEITH

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