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Gold/Mining/Energy : Barrick Gold (ABX) -- Ignore unavailable to you. Want to Upgrade?

To: tyc:> who wrote (2289)	4/1/2002 5:04:24 PM
From: Enigma	Read Replies (2) \| Respond to of 3558

When I asked you for your criteria I was thinking of the various yardsticks that could be used - for example MV in relation to proven reserves - but as Russett said Barrick not only has enormous proven reserves it has a huge resource base, and this may or may not include its mothballed properties, so a lot of gold will come on stream with higher prices. If we're seeing a turnaround in the POG, and I can't see why not, certain companies will lead the way - these will include the marginal producers like Kinross - the traditional highly leveraged type of situation (like Giant Yellowknife in previous years, and also companies leveraged by debt. Companies like Goldcorp, Claude Resources, which are finding high grade ore will also do well. Some of these companies are making much of the fact that they are not hedged and it's a useful marketing and promotional tool for them.