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

To: Enigma who wrote (45341)	11/27/1999 9:40:00 AM
From: tyc:>	Read Replies (2) \| Respond to of 117047

If miners like to DIG, they should call a spade a spade ! Does their home page admit that they are in debt ?

To: Enigma who wrote (45341)	11/27/1999 2:20:00 PM
From: Terry Swift	Read Replies (2) \| Respond to of 117047

Obviously, you don't know anything about Barrick's hedge program either, since your only response is to tell everyone to go to Barrick's home page and read it. Why read their own propaganda? Will it disclose the cost of Barrick's hedge positions? NO. That is the point of my post. Apparently, you missed it. Again, common sense economics dictates that in order for Barrick to have the program they claim to have; i.e., one in which they can opt out of forward sales commitments if the POG goes up, they must pay for that very crucial option. Until Barrick discloses the costs of its hedge program, stockholder's don't have a clue whether the program is even a profitable one. The only thing Barrick trumpets every quarter is that it received an average price of ______ (pick a number) for the gold it sold during that quarter. That number is usually $100-150 over the spot price for the quarter. It all sounds really great; Barrick is able to sell its gold for $100-150 over spot and what's even more amazing is they continue to do so in a falling market that has been falling for over 3 years. What nobody knows is what it costs them to do so. Like I said, Barrick can contract to sell gold at $500/oz. Wouldn't that be great? Getting $500/oz for their gold? It would look great in their quarterly reports. Of course, anyone with an IQ in double digits would have to ask; how is that possible without paying a huge price for the right to sell at $500/oz? That's the problem. What is the cost of their hedge program? You won't find it on Barrick's web site or anywhere else.