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

To: re3 who wrote (44959)	11/13/1999 6:02:00 PM
From: Enigma	Read Replies (1) \| Respond to of 116790

over the years' means more than one year - the point I made was that in the years when the stock went up like a rocket the company was hedged - it has never changed its policy. And the whole point about hedging is that the price variable is taken out of the equation. Let's assume a major wants to bring a property into production at a capital cost of $500 million. The POG is $250/oz. The projected mining cost is, say, $150/oz. The company doesn't know what will happen to the POG over the next several years - IMO it has to hedge future production from this new mine - in fact it would be derelict in its management responsibility not to lock in it's price. I have never suggested that anyone buy Barrick - but I draw the line when I see this visceral hatred - based on ignorance.