Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Greg Ford who wrote (42917)	10/13/1999 10:13:00 PM
From: Terry Swift	Respond to of 117026

Greg: <Did ABX mention that they have 3.2 million calls outstanding or that the mark to market of their hedge book is negative?> Are you kidding? It was all sweetness and light as far as ABX is willing to say. I've read where ABX has sold forward 13.3 million ozs plus the 3.2 million ozs in calls you mention for a total of 16.5 million ozs hedged. That's a lot of gold to cover, even for Barrick. If accounting practices required them to mark to market their financial statements (income statement & balance sheet) they would have to disclose one very big hit, IMO. The emperor has no clothes but the little boy in the crowd hasn't spoken yet. Terry