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

To: nickel61 who wrote (2828)	5/18/2002 3:45:46 PM
From: goldsheet	Read Replies (1) \| Respond to of 3558

> And you disagree with me?????? Is disagreeing with allowed ? <grin> 86% hedging is definitely crazy, unless the bank has forced you to do it and you had no other options to finance a profitable mining project. A firm can properly manage a hedge program in the 10-20% of reserves range, without being crazy or evil. Also, firms with no hedges or plans to be hedge-free are not automatically wonderful, they can still have poor management, declining reserves, lousy cash flow, and no earning. Hedging is not either good or bad, it is a financial management tool. Like a power saw, you can build a house with it or cut your hands off, depending on the skill of the operator.