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

To: russet who wrote (3041)	5/23/2002 7:09:37 PM
From: nickel61	Read Replies (1) \| Respond to of 3558

Well th fact that they have to mark their hedges to market and if gold goes to $400 bid there will not be much to prove. Based on their own statements the $21 million increase in the loss on their hedges per dollar of increase in the price of gold makes their loss since the $308 gold price at the end of the first quarter, sounds like $322-$308= $14/ounce times $21 million per ounce equals $294,000,000 increase in the loss on the hedges since the end of March. Pretty impressive impact. We will see if it is significant when the price of gold gets to $365/ounce.