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

To: Zardoz who wrote (2012)	2/6/2000 10:49:00 PM
From: marcos	Read Replies (2) \| Respond to of 3558

Hutch, whatever it is they do i don't want any part of it. You know i have a lot of respect for your opinions and btw the same is true of Enigma, but i simply don't understand all the implications of all the abx positions. Seems to me in my admittedly limited understanding that they don't stand to make enough to justify the share price no matter which way gold goes, and if it goes high enough they're in deep doo doo. The less hedged the better imho - i'll stick with cleaner vehicles for the trading of gold. If they had led in the unwinding of shorts as they led in their making, the story would be different. But to follow others will be deadly - it's a business where the devil takes the hindmost ... hope it works out for you anyway, i know you're nimble and play it long and short and know it well, so it likely will ... cheers

To: Zardoz who wrote (2012)	2/7/2000 1:05:00 AM
From: Enigma	Read Replies (1) \| Respond to of 3558

Exactly - they also have 75% of reserves unhedged. A few years back they had some debt instrument - gold related -extrememly low coupon which took them about 10 years out in production. I think 'gold backed debentures' as such are still illegal in the States and Canada - but the instrument they devised must have been within the present law. I think people are too focused on the next few years and not looking at the overall strength of this company. And words like 'despise' betray too much emotion and too little investment cool. Especially coming from the usually sanguine Mr. Winter!! d