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Strategies & Market Trends : Alamos Gold -- Ignore unavailable to you. Want to Upgrade?

To: Al Collard who wrote (2846)	6/25/2002 10:02:39 AM
From: Chuca Marsh	Respond to of 4470

ABX the fact it they forward sold at LOWER PRICES lasy few quarters, right? Sprott Fund SSI*GPM-t owns Umpteen % of CEF.a in a filing before the Run of Both Companies last quarter: NP says Barrick Gold sees Sprott eat crow Barrick Gold Corp ABX Shares issued 537,813,627 Jun 21 2002 close $ 31.40 Monday June 24 2002 In the News The National Post reports in its Saturday edition that fund manager Eric Sprott backtracked Friday on allegations Barrick Gold's hedging program would leave it vulnerable to massive losses if the price of gold moved dramatically higher. The Post's Paul Haavardsrud writes that the founder of Sprott Securities issued a formal written retraction of an earlier research comment that had highlighted his concerns over the risk of gold hedges in a rising market for gold prices. After consulting with Barrick and further analysis of the firm's public filings, Mr. Sprott retracted his warning to clients that Barrick could be subject to potentially ruinous margin calls if gold continues to rise sharply. Barrick spokesperson Vince Borg says Mr. Sprott corrected his error and "we accept that." Mr. Sprott issued the retraction, saying he recognized his primary assumption about Barrick's gold hedging program was incorrect. Earlier, his call had assumed the liability for the hedging program rested with Barrick, when in fact the primary hedging transaction is done, not by Barrick, but at a bullion bank. Mr. Sprott said Friday Barrick is not subject to margin calls in a rising gold market. (c) Copyright 2002 Canjex Publishing Ltd. stockwatch.com