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To: PaulM who wrote (48743)2/10/2000 8:36:00 AM
From: Enigma  Respond to of 116764
 
As for Barrick reducing its hedges - I'm only going on what I've read somewhere here - but I didn't get the impression that they were talking about the calls being an offset against forward positions in any way.

I was thinking some more about the gold sold forward at $360 for the next years, and this is, of course covered by production - so non 'delivery' (quotes because who knows what actually happens) is not an issue, or I can't see it being which isn't quite the same thing!