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Gold/Mining/Energy : Barrick Gold (ABX) -- Ignore unavailable to you. Want to Upgrade?

To: Zardoz who wrote (1290)	7/1/1999 1:56:00 PM
From: Enigma	Read Replies (1) \| Respond to of 3558

Are you questioning ABX's off balance sheet asset of $4 billion if so let's have your reasons? d

To: Zardoz who wrote (1290)	7/1/1999 2:34:00 PM
From: Claude Cormier	Respond to of 3558

Assuming that all miners were hedged like Barrick is, we would have 7000 tons of covered short sales by the miner (20 times 350 tons). But I suspect that we should cut this number at least in half if not more as many are unhedged and those who are hedged, are not all going up to 3 years. So covered short sales by the miners are at best 2000-3000 tons, and I feel generous here. The rest are naked shorts. But I really doubt there are that much. (5000-8000). There can't be that many stupid managers <g>