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

To: Terry Swift who wrote (47066)	1/14/2000 2:45:00 PM
From: long-gone	Read Replies (1) \| Respond to of 116779

<<Contrast that with the idiots in the front offices of the gold mining industry >> Terry, You should make the distinction, & not act like it is All mining companies. Some are only lightly hedged(& even without forward sales) others have no hedge at all. If you dislike the hedging policy of a miner or two, vote with your feet. I have.

To: Terry Swift who wrote (47066)	1/14/2000 3:26:00 PM
From: Ken Benes	Read Replies (3) \| Respond to of 116779

Barrick is facing a unique situation. On one hand they are polling their institutional investors concerning their hedging program. It appears that their low share price is starting to bite. On the other hand, they have a cozy working relationship with the bullion banks and brokerages that deal in leasing gold. They are facing both a shareholder revolt and pressure from the bankers to lease gold. If they choose to cover some of their hedges, they will further reduce supply and put upward pressure on the pog. If they lease gold, they will add supply and put downward pressure on the pog. I think we should help them out as they ponder the best alternative. Sell Barrick, drive the price lower. Make them bleed all over their commitments to the bullion banks and when the hemoraging is at its worst, kick them in the groin. Sound drastic, that is what they did to the gold market by aligning themselves with the speculators and cb's. They showed complete arrogance to other producers and the third world countries they tried to exploit. Make them bleed, kick them until the abx share price is the joke of the ny stock exchange. Ken