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Gold/Mining/Energy : Standard Mining, ( Formerly Quest International ) -- Ignore unavailable to you. Want to Upgrade?

To: ThomasJ.Menning who wrote (443)	12/25/2000 10:08:27 AM
From: James Mortensen	Read Replies (2) \| Respond to of 462

Tom, Wishing you the best as well. I hope you get out of Standard what you poured into it. I still think Zopilote offers that opportunity. Jim

To: ThomasJ.Menning who wrote (443)	12/25/2000 10:43:05 AM
From: Robert J Mullenbach	Read Replies (1) \| Respond to of 462

Wishing you the best in 2001, Gold talk. MIDAS note: I received the following the other day from a very credible source: "Did you note ABX covered 10,000,000 of their 13,000,000 ounces of short deferred gold using calls?"<p> Now that would be a major gold market event if true. Since I had heard of nothing of the sort, I put out a feeler to two major Barrick shareholders. They have come back to me now and said they have heard nothing of it either.<p> Let us step back a bit. A year ago, or so, Barrick was short 13.4 million ounces of forward gold. When Placer Dome announced early last February that it would be delivering into its hedges and not rolling them over, gold shot up from $290 to $320 in lightening fashion. Barrick was under pressure from shareholders around the world to do the same. They did not make that decision, but announced that they bought 6.8 million announces of calls against their forward sales. Those calls have been expiring and sources tell me they are down to 5.1 million ounces left. Sometime over the past many months they sold 5.5 million ounces of calls against the 5.1 million calls that were expiring on a monthly basis. That means their short position had grown to 13.8 million ounces (13.4 million plus 400,000 ounces). Barrick did not reveal to the public that they sold the 5.1 million ounces of calls. When confronted about this when it became public way after the fact, Barrick reportedly told perplexed inquirers that it was not material information. If that is what they said, I find their response to be a bit dubious at best. But, there is no way that buying 10 million ounces of calls is not material, if they have done so. If true, certain shareholders are receiving inside information, while others are not. If true, what does Barrick know that it is not telling others? Why would they be covering their shorts now? What has JP Morgan told them? Does the Howe/GATA Complaint have anything to do with it? I am only reporting what a very credible source has told me. It will come out in time either way. But, if true, Barrick will have a lot of explaining to do. And, it certainly would be a VERY bullish gold market developments. Then one would have to wonder, who on earth would have sold that size call position to them at this late stage in the gold collusion game? Stay tuned! XXXXXXXXXXXXXXXXXXXXXXXXXXX Tyrex Resources Corporation will be up and running in 2001. Maybe we can do battle some day. I always liked Damoti, but after talking to Paul, sounds like they would just work the High grade stuff. I guess that all depends on Gold price, maybe at 500, things would look way different. with SDM selling so low, nice time to gamble. see how it goes in 2001. Going to try trading up North on internet, see how that goes.