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

To: Tunica Albuginea who wrote (44936)	11/12/1999 12:53:00 PM
From: james paterson	Read Replies (1) \| Respond to of 116764

About ABX. I'm a frequent lurker, infreqent poster I own some shares & leaps of ABX so am more than a little perplexed & amused at all the ABX bashing lately. ABX is not my favorite au stock by any means. My position in FN is several times larger. Nevertheless, I find most of the criticism levelled at them unwarranted. They have no debt, 55 million ozs of reserves & at this moment are making around $125 per oz after ALL COSTS. How many are aware that some of the recent new era darlings such as AGE will need close to 400 just to break even? How many really believe we will see 400 any time soon? I'm not a big fan of hedging, but I think any reasonable person would agree that it's better to be hedged at 385 than 325 & below like many of the Johnny-come-latelies. If the POG goes back to the 270s for any length of time most of the unhedged & poorly, lightly hedged will see their share prices cut in half, especially with tax loss selling, & ABX will look very good in comparison, IMO. James