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

To: nickel61 who wrote (2614)	5/10/2002 5:02:05 PM
From: russet	Read Replies (1) \| Respond to of 3558

Barrick did not want to reduce its hedges. Some of their bullion bankers are getting nervous and FORCED them to cut back. That came from the best of sources. Barrick is still on track with it's plans to stay fully hedged. I don't believe this at all. This is more Gata propaganda. Neither Enigma or I or Barrick has ever said they would not reduce hedges in the face of a rising POG. Indeed I, and Barrick have gone to great lengths and efforts to say exactly what their philosophy is, and what will happen to them financially should the POG continue to rise. Your contention has been that Barrick is in imminent danger of failure and bankruptcy because of their hedge position, derivative risk and poor management, but have offered no proof but innuendo and gossip. You have also asserted that the market is about to punish Barrick for their hedging and turf management out in the street. You have linked Barrick to everything from Enron to defunct hedgefunds and called Barrick employees liars, cheats and incompetent managers. None of your contentions are based on any facts,...and you continue to contend that you don't need to read Barricks financial statements because you already know everything there is to know about them. Why are you here,...why is this the only SI thread you have ever posted to,....why do I waste my time talking to you?