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

To: russet who wrote (2740)	5/16/2002 8:42:11 AM
From: nickel61	Read Replies (1) \| Respond to of 3558

"This year, Newmont is obliged to deliver at least 1 million ounces into its hedges at a price of $303 per ounce. That seems reasonable enough except that "associated gold borrowing costs" reduce the final price by $17 per ounce to $286. With spot gold expected to average $305 an ounce this year, that's an opportunity cost of $19 million for the year on the minimum ounces to be delivered." I wonder what this number would be on Barrick's 18 million ounces sold forward and also why they have chose to never report it or it's impact in their financials. Or maybe since you read the financials of Barrick so fastidiously you would like to point out on which page they do?