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

To: Enigma who wrote (48583)	2/8/2000 8:07:00 PM
From: Ken Benes	Read Replies (2) \| Respond to of 116779

Gold traders responded so poorly to their announcement because these supposed masters of PR blew it big time as they led of their press release with statements like Barrick committed to hedging followed by a comment that they did not intend to deliver into their forward sales like Placer, Normandy and Anglogold are doing. Then, they touched on their increasing gold mine production. "Moans were heard all over the place. One of the worst PR snafus I can ever remember(the cb's must have loved it). I was told Peter Munk was going to be on CNBC this morning. He ran for the hills and sent Randall Oliphant into the fray to take the heat. I thought he made a very good presentation, by the way. The market did not think so. The shares of Barrick plummeted and closed today at 17 1/4, down almost 2 full points from its high on Monday and only about 1 point off 52 week lows." It is not about multiples of cash flow, it is about share price and the price of gold. The only thing that matters to an investor of gold shares is what I paid for the stock and what can I sell it for. Ken