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Gold/Mining/Energy : Gold Stocks that are Unhedged -- Ignore unavailable to you. Want to Upgrade?

To: keith massey who wrote (2)	10/13/1999 6:53:00 PM
From: Lola	Read Replies (1) \| Respond to of 10

Hi Keith, what you just quoted there sounds like a contradictory statement or at least a bad way for Barrick to explain things. So they're saying the fact that 25% of their gold is hedged is not a problem because they can sell at the contract price or the spot price whichever is higher. On the other hand they want to state another positive which is that 75 per cent of the reserves are unhedged and therefore can take advantage of the rise in the POG. That sounds silly. They should just say hey the fact that we have a 25 % hedge on our gold is no big deal. Probably some marketing guy wrote and doesn't realize how silly it sounds. Lola:) edit . . . or maybe I'm missing something . . . am I?