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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (36050)6/28/1999 10:17:00 AM
From: Bobby Yellin  Read Replies (1) | Respond to of 116741
 
there is a psychological effect..many are probably watching what Barrick is doing..if Barrick started closing its positions others in the market might view it as Munk's thinking that the bottom is in..
(ps I bet they have a list of the most promising properties and if the junior defaults, nothing would stop Barrick from buying the properties cheaply and avoid the middle man-do you think that is a faulty argument on my part?)



To: Claude Cormier who wrote (36050)6/28/1999 10:33:00 AM
From: David R. Schaller  Read Replies (3) | Respond to of 116741
 
Claude, I heard with my own ears Barricks CFO admit on CNNFN that they leased gold from the central banks and then sold it. The proceeds were put in treasuries (according to him) This was his explanation for how they yielded gold at $400/oz in a $300/oz market. They realize the price of the gold when sold and then the interest for up to 5yrs or more on the invested proceeds. Did I misunderstand?

Dave


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