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

To: Enigma who wrote (1385)	10/13/1999 7:35:00 PM
From: Andras	Read Replies (1) \| Respond to of 3558

Barrick reports great revenue and cash flow growth newswire.ca Not affected by hedgings problems The Company consistently sells forward about 20-25% of reserves under its Premium Gold Sales Program to maximize revenue and minimize gold price risk over a three-to-four year horizon. These contracts give Barrick the flexibility to sell its gold at the contract price or the spot price, whichever is higher. At the same time, the Company can capture the benefits of a rising gold price as 75% of reserves are unhedged. ''The financial strength of Barrick has allowed us to build a flexible hedge book. No other Company offers its shareholders this unique combination of protection and profitability, whether gold prices are rising or falling,'' said Mr. Oliphant. The Premium Gold Sales Program is unaffected by the recent rise in gold prices. The Program's gold borrowing costs are locked in at low rates into mid-2000. Due to the Company's financial strength and quality asset base, the Company is also effectively free from margin calls. Happy investing, andras