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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.33

+5.2%

Nov 26 4:00 PM EST

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To: donald martin who wrote (33746)	5/12/1999 4:38:00 PM
From: Gord Bolton	Read Replies (1) of 116769

Barrick does not lose on possible future price increases in gold. They, like anybody else, could simply buy back their forward sale in the event that the price started rising significantly. And of course if the POG goes up their economic reserves and production would probably increase greatly. THe forward sale simply locks in the price and insures them against a drop in POG. It also puts cash in their hands today by using their gold in the ground as security. Seems like an excellent deal. And it has worked well for them.

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