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

To: Zardoz who wrote (1300)	7/22/1999 5:04:00 PM
From: teevee	Read Replies (2) \| Respond to of 3558

Hutch, """''These results confirm once again Barrick's unrivalled position in the industry,'' said Randall Oliphant, President and Chief Executive Officer. ''We are making more money today than ever before, selling our gold for three times the cost of production.''""" Well hutch, this appears to be further confirmation that the price of gold is too high in relation to cost of production, and that that there is lots of room for the price of gold to come down and get inline with the cost of production, and this is in addition to and over and above the FACT that the central banks have about the equivelent of 50 years new mine production sitting in bank vaults which they would like to sell:-))....I wonder if this has anything to do with an increase in gold leasing and lease rates?:-)) regards, teevee