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Gold/Mining/Energy : Barrick Gold (ABX)
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To: Eashoa' M'sheekha who wrote (729)9/8/1998 5:54:00 PM
From: Scripts  Read Replies (1) of 3558
 
Taurus553: We are experiencing a little drift here. The matter I was trying to get view on was the Kitco rumour that ABX was about to unwind its hedging program. Here is the KITCO Paragraph I posted. I don't think it has to do with buying back shares. Or does it?

"...A very reliable source has told me that American Barrick are within days of making a
decision to unwind their entire hedging program.. The result of this would be a gain of
ONE BILLION DOLLARS! Needless to say they believe that Gold is moving much higher
from here and if they are right it would create a win win situation. There is little doubt that
this would trigger a round of hedge covering by other seniors and more importantly a
short squeeze like we have all dreamed of! I REPEAT THIS RELIABLE SOURCE HAS
TOLD ME THE PROPOSAL IS AS WE SPEAK ON THE TABLE!!! "
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