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

To: Claude Cormier who wrote (36057)	6/28/1999 11:36:00 AM
From: Exsrch	Read Replies (1) \| Respond to of 116752

Claude, Your looking at the balance sheet to confirm whether ABX has a $4 billion asset or liability. You'll never find it there becuase it is an off balance sheet item. You can confirm this at ABX's website (www.barrick.com). ABX readily admit to having a $4 billion asset off balance sheet from which they earn $200 million a year. And yes I agree with your following statement: <<.."The instuments used include spot deferred contracts, commodity options and currency swaps. The company does not hold or issue derivative financial instruments for trading purposes..." "Contracted prices for spot deferred sales are recognized in gold sales as the designated production is delivered to meet commitments "..>> Cheers, Exsrch