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

To: FuzzFace who wrote (2951)	5/21/2002 1:05:49 AM
From: russet	Read Replies (1) \| Respond to of 3558

Everyone has tripled their money, everyone is a winner. I wonder who lost, given that everyone I ever talk like you says they won? Where is the proof,...and where is the proof that Barrick will go bankrupt, that they won't replace reserves, that they won't increase reserves and profits as the POG rises, that they will continue to roll over hedges, that the POG will rise forever even though demand is price sensitive, that they will get margin calls, that they will lose the $5.5 billion dollars in proceeds from forward selling gold because the POG keeps rising due to notional gold writedowns, that they are currently getting less for their hedged gold than $365 per oz, that the hedge funds are in escrow, that their cashflows will decrease with a rising POG, that their mines will flood, or their reserves will shrivel in the sun or for lack of rain and their costs will rise. Your logic is flawed. You have no knowledge of the mining industry. You are a speculator, and are speculating on the POG rising, hence you are anti hedging and anti Barrick because Gata tells you to be. Problem is, Barrick has grown for many years, they will continue to grow, and nothing you can do on this thread will stop that because they know how to find, mine and process gold as well as anyone. If the POG bubbles up they will have no trouble making money. They will increase revenues, cashflows, profits and reserves. The forward sales have been an integral part of their growth for the last 15 years, and has given them the money to build many mines over that period. To say they are stupid enough to do what the article you posted by the Ivory Tower man says they will do, indicates you have the same assumptions he does,...which indicates to me you feel everyone is as stupid as he is. Any time you can convince one of these nitwits to come on this thread and defend their statements with some facts, do it. We are all waiting!!!!!!!!!! So far we have lots of accusations, theories, ASSumptions and lies,...but no facts.