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Gold/Mining/Energy : Gold Price Monitor

GDXJ 117.61

+3.0%

Dec 19 4:00 PM EST

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To: Enigma who wrote (34161)	5/19/1999 10:37:00 AM
From: John Hunt	Read Replies (3) of 116815

Re Barrick Hi DD, It looks to me like Barrick have sold their future production AND have also sold the central bank's leased gold. Leverage is fine when it is going your way ... Ever try to use a lever in reverse? ... Lots of huffing and puffing and you don't get too far. If the price of gold rises sharply, Barrick has to buy gold quickly in the market to close those lease positions or suffer a massive earnings drop ... I don't think they can wait to ramp up production ... just too much risk that way. Just MHO, of course. John

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