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

To: russet who wrote (2944)	5/20/2002 11:32:05 PM
From: FuzzFace	Read Replies (1) \| Respond to of 3558

First, I suggest you reread the TOU - you are getting abusive. Nothing you said in the prior post argues in your favor. "Just extracted" - there's no "just" about it. It costs a significant part of gold's final price just to extract it. Growing crops is comparatively cheap, by contrast. There are conditions which impede mining just as there are conditions which impede agriculture. A year or so ago, a mining company had to write off a mine completely - because heavy rains flooded it. Stopped by flooding, just like agriculture, but agriculture recovers sooner. A miner, like a farmer can go belly-up and not deliver into the hedges. The further ahead either is allowed to hedge, the greater the likelihood an unforseen change in conditions bankrupts either - exactly the reason farmers are not allowed to overhedge. Miners are exempted from this common sense limitation. Again, the reason has to do with what government wants to suppress and what it wants to subsidize, and not with any inherent hedge-worthiness of miners vis a vis farmers.

To: russet who wrote (2944)	5/21/2002 8:46:14 AM
From: nickel61	Read Replies (1) \| Respond to of 3558

"You have just said that proven gold in the ground that can be extracted at a set price is the same as a crop that may or may not be grown depending on weather and agricultural conditions. The gold has already been grown, and just needs to be harvested,...that is the difference idiot." You can make a totally uneducated statement about the mining of gold and the tremendous difficulties involved and keep a straight face? Give me a break...the most optimistic miner wouldn't have that level of cupidity. Do you also believe Santa brings the Christmas gifts to all good children?