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

To: B Hamilton who wrote (306)	1/2/1998 4:23:00 PM
From: wizard	Read Replies (1) \| Respond to of 3558

Star has its own thread on S.I. As the tender for this 50 million ounces of gold is to be awarded in january i am pondering purchasing options on barrick as i am already in a losing position with star.The hedge seems logical but from a sensitivity analysis perspective i'm wondering how the market will react.It appears barrick is a shoe-in for the tender but in all likelyhood star will bring this to court.I'm thinking in the money options with t=0.The downside is barrick don't win the tender any nothing happenings to the options,otherwise they win and barrick gets a small kick in the ass. I hope star succeeds but the options may give me a chance to gain back my star loses.DOES ANYONE HAVE AN OPINION ON HOW BARRICK WINNING THIS TENDER,WOULD AFFECT THEIR SHARE PRICE SHORTERM.(50 MILLION PROVEN OUNCES) WIZARD