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To: Lucretius who wrote (48455)2/7/2000 5:41:00 PM
From: GST  Read Replies (1) | Respond to of 116773
 
Taurus <ho ho ho, i think i know...> I give up -- who is it?????



To: Lucretius who wrote (48455)2/7/2000 6:49:00 PM
From: Enigma  Respond to of 116773
 
EDIT:

Who sold Barrick the calls?

Sorry - I had to go out and realised I'd missed the point of your question: Barrick would have made sure that whoever wrote the calls has the gold. Here's a guess - either the Swiss or Dutch CBS directly or through an intermediary. The added brilliance of this strategy for Barrick is that it can let the calls ride, and sell at some point - or take delivery, in whole or part, and it will have the gold it needs (if needs be) to cover its hedge book.

Edit: this scenario if correct IMO is bullish for gold becuase if Barrick exercises it's calls on the CB gold it will be an 'off market' transaction. d