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

To: long-gone who wrote (55879)	7/7/2000 11:40:25 AM
From: pater tenebrarum	Read Replies (3) \| Respond to of 116796

wasn't the rumor that they will be buying an Australian miner? what has it got to do with the XAU? the XAU is plunging because the gold price is, and no-one's interested in gold stocks anymore. btw, the put/call OI on XAU components is also extremely bearish...call OI is far greater than put OI.

To: long-gone who wrote (55879)	7/7/2000 11:56:08 AM
From: Enigma	Read Replies (2) \| Respond to of 116796

As a Pangea shareholder I can only hope Au is topping the Barrick cozy friendly deal - unlikely IMO but Au seems to have been outmanoevoured in Tanzania by Barrick. Pangea is a big prize for Barrick and Au would liklely be outbid - in a bidding war - but might like to see its rival have to ante up another $50 - $100 million. The trading in PGD is fascinating - all at $6.85 or $6.90, a little at $6.95. Barrick is either taking stock at under its offer price or the arbs are accumulating in case of another last minute bid from Au - as the most likely player. On the sell side the sales are completely orchestrated - first one broker makes multiple sales then another - which make me think Barrick is the buyer and its fiscal agent knows exactly where all the stock is.