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

To: Daniel Chisholm who wrote (1310)	8/3/1999 3:48:00 PM
From: Enigma	Respond to of 3558

Exsrch I'm into a dialogue on GPM on this again - and may need your expert aid - I'm trying to keep it simple, as simple is what I think I understand! d

To: Daniel Chisholm who wrote (1310)	8/3/1999 4:14:00 PM
From: Exsrch	Respond to of 3558

Dan, ABX manages their fund internally. What they have created in essence is a money market fund of their own made up of US treasuries. Hence, they incur no fees for the management other than the actual cost of managing this off balance sheet asset of $4 billion (this is FY 1998 figure, the current figure is larger confirm Q2 numbers via Q filings). You can go to the ABX website and also look up the SEC 10Q filing on EDGAR to confirm this. You can also listen to ABX annual report on real audio off the ABX homepage (Specifically the CEO and CFO comments about the Premium Gold Sales program). Again the answer is they invest in US treasuries on their own effectively creating their own money market fund which grosses 7.5% and nets 5% Cantango income from the $4 billion plus off balance sheet asset. Cheers, Exsrch P.S. I won't be able to respond as quickly as I normally do because I am currently at a flight school in Florida.