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To: Ron Everest who wrote (39139)	8/17/1999 6:13:00 AM
From: d:oug	Read Replies (1) \| Respond to of 116892

Ron, your reply was excellent, and to me Bill Murphy should follow thru in the spirit that he created the Le Metropole Cafe and place your post, in its full, as a rebuttal to Mida's. <<Do I need to say any more? Bill Murphy ( Midas )>> Bill, to me this would be a very good time for you to allocate some of your resources to this thread and engage Ron in a couple posts & replies so that others can get a sense of what is and is not an issue. On of my recent echo's of the GATA view has a copy of what you see on the home page of Le Metropole Cafe, and to my memory, so far only one "other side" view was presented. Bill Murphy should not need the person on the other side of the cafe's table to be already knowned in the public as one who has gained respect in the media, but only to show with the type of intelligents that you have delivered in you reply. As for if GATA's voice does or does not influence Barrick's health as a company, to me is not the issue, but the truth, and that can be obtained by a shareholder as yourself, even if its day trading. Welcome to Le Metropole. It is a venue where investors and intellectuals from all over the world can meet to discuss the vibrant economic and financial issues of the day. Our theme is the French cafes of the early to mid 20th century, Le Moulin Rouge ( Pigalle ), Les Deux Magots ( St. Germain ), Le Flore ( St. Germain ), La Coupole ( Montparnasse ) and Brasserie Lipp ( St. Germain ). Paris was a place where artists, intellectual figures, public personalities, etc., all met to engage, share, and learn. Times have changed but the human craving for knowledge and association with the most fascinating minds and creators out there has not. The internet has made it possible for us to present economic and financial commentary via " The Minds of Le Metropole", an economic dream team, and for you to be able to interact with others about this commentary. doug

To: Ron Everest who wrote (39139)	8/17/1999 4:28:00 PM
From: Claude Cormier	Read Replies (1) \| Respond to of 116892

<<ABX has the right to postpone the return of gold under their contracts, as I understand it during the period of ten years from contract date. >> Of course, this is true. But that doesn't remove the risk if gold moves straight up past Barrick contract prices and never comes back. The higher the price of gold goes, the larger would be Barrick losses.

To: Ron Everest who wrote (39139)	8/26/1999 5:36:00 AM
From: d:oug	Read Replies (2) \| Respond to of 116892

Ron, is below more <<... GATA ... credibility ... false reporting...>> Its gibberish to my uneducated knowledge of this area, so to you is it hog wash or more lies or half truths ? Doug ( from Le Metropole Cafe, lemetropolecafe.com ) ... is interesting to note that Barrick Gold, the icon of all hedging, is largely unprotected on its funding costs. The average duration of Barrick's gold lease agreements is six months. The $4 billion off balance sheet asset, a hedge fund in the estimation of some, is invested in long term financial instruments. The mismatch is essential in order to earn the contango, which is the positive carry between the cost of borrowing gold and the returns from investing the proceeds of gold sold short. Barrick, and most other hedgers, face the risk that a prolonged upturn in lease rates will erase all the benefits of hedging. We would not be surprised if increased focus and concern arises over this issue from both shareholders and corporate directors... (I do not know if the next paragraph is related to the above. doug) Only gold leased from central banks can provide liquidity in a short covering rally. With physical gold owed to the central banks by bullion dealers no longer in deliverable form, the short sellers' only alternative will be to borrow additional gold. The short will remain short, a situation that can only cause great discomfort to the central banks. At current market prices, the aggregate short position represents $40 to $80 billion of capital at risk. A short covering rally of $50 to $100/oz would cost $8 to $16 billion, enough to make the problems of Long Term Capital Management seem insignificant.