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

To: tyc:> who wrote (1696)	12/31/1999 1:40:00 AM
From: Enigma	Read Replies (2) \| Respond to of 3558

A forward sale is not ipso facto a sale into the spot market. The month may not be a contract month - but as an example - if I sell one months's production forward for the December 2000 contract - I undertake to deliver that production in December 2000. I get credited with the proceeds immediately. In December 2000 I sell one month's production into the spot market. Show me where the forward sale is a sale into today's spot market. And then let's deal with the gold that has to be leased to satisfy the gold that is required for the forward contract. Presumably the producer could put up cash margin - or alternatively lease the gold. Presumably the gold leased is covered by a paper certificate which is held as collateral. You're saying the gold leased is also sold into the spot market. You may be right - but I'm not sure you're right - I don't know where you read this in the Barrick material.