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

To: Enigma who wrote (48528)	2/8/2000 8:55:00 AM
From: lorne	Respond to of 116762

Japanese investors halt gold retail buying on price recovery Tokyo--Feb 8--Gold buying by Japanese private investors has stalled since mid-January, when the local retail gold price had rebounded above the key 1,000-yen per gram, local dealers said. Instead, these investors are now selling back their gold bars to retailers, seeing the price now above 1,100 yen following strong spot prices, they said. (Story .10442) Chairman of Canada's Barrick says firm is carrying gold sector Toronto--Feb 7--Peter Munk, the chairman of Canada's Barrick Gold Corp., said the company has been instrumental in carrying the gold industry through its prolonged price slump in recent years. Although the company continues to hedge all its gold production at a time when other maj or producers are opting to suspend hedging activities, Munk feels poorly managed gold producers that sell gold into a falling gold market are a much greater detriment to the industry. (Story .21337) Agnico-Eagle maintains non-hedging strategy Toronto--Feb 7--Canada's Agnico-Eagle Mines Ltd on Tuesday confirmed its policy of not forward selling any of its future gold production and strongly supports Placer Dome's decision to restrict future hedging activities. The company added gold hedging has contributed to lower gold prices in the industry for several years and that gold producers should stop short-selling gold. (Story .17442) S Africa's Anglogold says intends delivering into its hedge Johannesburg--Feb 7--South Africa's Anglogold--the world's largest gold producer--said Monday it intended delivering into its hedge and this would mean a lower hedge going forward. Anglogold was responding to news that Canadian producer Placer Dome has suspended further hedging. (Story .17168) Aur to consider withdrawing Cambior bid Toronto--Feb 7--Canada's Aur Resources Inc. on Monday said it has requested access to all information related to Cambior's bank debt, gold hedgebook and call option contracts. Aur is concerned the rise in the gold price over the last fe w days could have an adverse financial effect on Cambior, which could prompt Aur to consider withdrawing its bid to purchase all of Cambior's common shares. (Story .16738) crbindex.com

To: Enigma who wrote (48528)	2/8/2000 8:57:00 AM
From: Gord Bolton	Read Replies (3) \| Respond to of 116762

I looks to me like Barrick is conducting a massive public relations disaster for itself and the whole industry. Bragging that they can produce endless quantities of gold for $60 per ounce and that they are gauranteed $360 per ounce is just plain stupid. They have the average investor so confused with forward selling and buying calls that they don't know whether ABX or any other gold miner is coming or going. The best thing that they could have done would have been to make a plain statement that they had increased their potential to benefit from an increase in the POG and then shut up.