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

To: Alex who wrote (52855)	5/17/2000 8:21:00 AM
From: Richard Mazzarella	Read Replies (1) \| Respond to of 116758

Alex, very interesting. The market perception is that ABX only writes and prints paper, not mine. They just added to that perception by attempting to set the record straight. It's obvious that even ABX management has that perception, I love it! LOL ABX is now firmly the pariah of gold producers, they said so themselves. <VBG>

To: Alex who wrote (52855)	5/17/2000 8:40:00 AM
From: Ken Benes	Read Replies (2) \| Respond to of 116758

Poor Peter Monk, he just does not understand that he is running a gold mining company not general motors. The article says it all, barrick is increasing production and continuing to sell more gold than they produce thru hedging thereby increasing supply and capping the gold price. Barrick has it right when they state fund managers want companies that are leveraged to the price of gold, they are not interested in eps or any of the other fundamental ratios used to analyze a stock. An investor looking for great looking balance sheets would choose companies outside the gold sector. Barrick is a good company in a beaten down sector whose underlying commodity is range bound because of overproduction, hedging, and the interests of bankers/producers. Investors are rightfully shunning barrick, because thru its lack of understanding, it is instrumental in the decimation of the gold industry. Ken