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Gold/Mining/Energy : Barrick Gold (ABX) -- Ignore unavailable to you. Want to Upgrade?

To: Enigma who wrote (1631)	12/19/1999 10:47:00 AM
From: nickel61	Read Replies (2) \| Respond to of 3558

I am going to clarify my concern with hedging one more time.The total annual gold production is 2550 tonnes annually. The above ground stock that could be mobilized and sold into the spot market at high enough prices are approximately 60,000 tonnes of a total historical production total of 120,000 tonnes. The annual demand at current prices is about 3800-4500 tonnes mainly used for jewlery consumption and variouw types of fabrication.The all in cost of existing production is around $265/ounce. For future production this cost would be higher because the effect of inflation and the difficulty in finding and developing new deposits in an enviroment of regulations and political cut ins.Of course the fall off in exploration over the last four years means there will be a lag before significant amount of new deposits can be found. <Do to system errors on long messages I will continue this in a later postin!>