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

To: Enigma who wrote (1690)	12/30/1999 12:22:00 PM
From: nickel61	Read Replies (1) \| Respond to of 3558

Look before we get into the complications of the Barrick hedge book,do you admit that the leasing of gold to set up a hedge results in the sale of the gold that is borrowed into the spot market? Barrick says as much in your qoute from its web site. "Barrick presently has 14 million ounces of its reserves sold forward, which means the Company earns interest today on gold that is still in the ground." How do you interpret that statement unless they have sold something to raise the cash to earn "interest on gold that is still in the ground" ????????????????????????????????????????????????????????????