Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: The Fix who wrote (680)	9/8/1998 12:54:00 AM
From: Enigma	Read Replies (2) of 3558

Fix - if Barrick were indeed to unwind its forward contracts it would not close any mines - it would simply sell in the spot market - which it does now as it buys back its contracts in the normal course of operating. The only difference would be that it would have no contracts to unwind. On top of its hedging programme, Barrick has a sophisticated options programme which enables it to participate on the upside if gold moves right on up. It used to claim that it would participate in 60% of any upside move in gold above the forward sale price - don't ask me how - that sort of thing is in Hutch's territory. E

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