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

To: xdll who wrote (229)	12/11/1997 11:35:00 AM
From: Zardoz	Respond to of 3558

Is a positive when gold drops, but when gold raising {like if that seems posibble} than it's a negative. Of course I heard that they plan to limit the amounts the forward sell.

To: xdll who wrote (229)	12/11/1997 11:52:00 AM
From: Roebear	Respond to of 3558

xdll, I agree with Hutch next post, and yet the stock price of ABX seems to follow pretty close with the POG. I suppose this may reflect the fact that they could always buy spot and close their hedges in a down market and just close and re hedge/not hedge in an up market? Nem did this earlier this year. Roebear

To: xdll who wrote (229)	12/11/1997 11:56:00 AM
From: Tommaso	Read Replies (1) \| Respond to of 3558

First, gold will have to get to more than $400 an ounce before it's any incovneience to ABX. They could always raise production and sell uncommitted gold for whatever the market will bring. So I look at their forward contract as much as a floor as a celing. Also, the stock price should rise with expectations of more profitable sales in future years. What's depressing is when the price is really high and you find that your company has sold forward contracts at much lower prices.