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

To: d:oug who wrote (46518)	1/1/2000 8:18:00 PM
From: d:oug	Read Replies (2) \| Respond to of 116810

(GATA News) Barrick, turning off potential gold share investors. The James Joyce Table, Discussion du Jour: Gold (Midas du Metropole) The gold industry and gold share industry is a disaster of sorts..... ... money mangers want no part of the gold shares at the moment. They read about a horror story like Ashanti and Cambior and then they hear, via seminars, how proud Barrick Gold is to be so hedged into the future. It has to confuse the heck out of generalist money managers. Or, maybe it is quite clear. Barrick stock closed today at $18 1/8. With all their great hedging strategies, the stock has under performed..... ... portfolio hedge on with a bet that the gold price is going to rise in price considerably. That would make sense. But Barrick is betting that the gold price is going to go nowhere for a long time. That is evident as can be at the moment. Otherwise, they would cover a decent amount of their forward sales. Why won't Barrick cover? Is it because that certain powerful forces of the world and their colluding cohorts won't let them? Barrick and Newmont traded in similar fashion until October. They traded at the same price, for example, during the summer. Since October, Newmont has way outperformed Barrick as Barrick closed today at 18 1/8 (a couple of points off a 52 week low) with Newmont finishing at 24 13/16. The only explanation for the dichotomy in price movements is the word is out that it makes no sense to own Barrick stock. Yes, the Arthur Hailey Syndrome is having an effect. It is bad enough that an industry leader like Barrick is turning off potential gold share investors for all of us in droves. That sort of press is compounded by the likes of the following article..... START... that this stance is fundamentally different from that of an operating gold mining company where hedging activities are used to support long term gold production".... continued actions "are doing nothing more than distracting management from the proper running of this business and costing all shareholders significant funds." End. This combo is a nightmare for attracting gold share investors. I pick on Barrick for that reason. They have hurt the gold industry immeasurably by their arrogance. They have confused so many that their stock is "stinking up the place" and that has hurt less visible gold companies as well as all of us gold share investors. Chairman Peter Munk has always basked in the glory of his PR triumphs. He loves the limelight. He has it again. This time it is for increased investor skepticism at his lack of flexibility, truth telling and common sense. Mr. Peter Munk has his PR mouthpieces calling us nutcases of sorts, different from the sorts of Dougak's use of the phrase "gata nuts" which reflects GATA as the kernel, the inner part of a nut that functions as the nucleus, the essence of the beliefs of those called gold bugs and others who want gold to resume its role as the best means to prevent the misuse and criminal use of fiat money. The word used here "nuts", as focused onto GATA, represents the hard outer shell, comprised of GATA's members and supporters surrounding that seed that will be nourished to expand and reach out to claim the rightful place for the role and meaning of gold. For telling the truth, Peter Munk calls the GATA organization nutcases. Comments like "we[GATA] find a conspiracy under every pound of ore. " Goofy - this Barrick lot. GATA is out fighting to expose the truth about what is really going on in the gold market so that his shareholders can be enriched and Peter Munk sends his minions to insult us. Wacky to the utmost. It has taken GATA time, but slowly the word is getting out about the gold market and the 600 pound gorilla is getting nervous. That is why he is losing weight. My take is that the gorilla is now anorexic. The dye is cast. Get with it Mr. Munk and Barrick - BUY BACK - BUY BACK. - BEFORE it is too late. BE A LEADER AGAIN. Time is running out on you! ... The Barrick Bears are on a short lease. Time to be in it to win it. ... The 600 pound gorillas that have been sitting on the market are being found out. They are beginning to lose weight, inexorably. My guess is that "Fatso" is now down to about 300-400 pounds and losing weight by the day. Soon, he will not be able to smother the good guys anymore. He will be overpowered and, when that that becomes evident to the marketplace, the gold price will rocket ride. The $84 move of 3 months ago will be viewed in retrospect as a trifling blip. Good times a comin. Midas Bill Murphy ( Midas ) For new readers, the above mention of GATA is as follows. Bill Murphy, Chairman, Gold Anti Trust Action (GATA) gata.org Also, GATA related articles can be obtained at the pay for view site. Bill Murphy, Le Patron, Le Metropole Cafe lemetropolecafe.com