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

To: B Hamilton who wrote (311)	1/5/1998 10:35:00 AM
From: Zardoz	Read Replies (1) \| Respond to of 3558

Barrick Gold Corp - News Release Journal says gold outlook mixed Barrick Gold Corp ABX Shares issued 372817172 1998-01-02 close $26.85 Monday Jan 5 1998 The Wall Street Journal reports in its Friday edition that with about two-thirds of all the world's gold mining now unprofitable at current prices, a lot of people are trying to pick the bottom for the gold price, according to William Byers, head of commodities research at Bear Stearns. Reporter Aaron Lucchetti says that Mr Byers predicts that gold will spend most of 1998 at prices between US$250 and US$300 an ounce, a range in which there will be some more mines closing. Any mine closings, however, could help the metal's battered price. Gold bugs are also hoping for better growth in Asia and more signs of inflation in the US. Many analysts are watching the amount of gold put into reserves by the proposed European Central Bank. If the bank allocates more than ten per-cent of its reserves to the precious metal, analysts say the move will be viewed as a vote of confidence. Dinsa Mehta, head of global commodities research for Chase Manhattan Bank in New York, says the announcement, expected in May, will have quite a big psychological effect on gold prices. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

To: B Hamilton who wrote (311)	1/5/1998 6:43:00 PM
From: Ron Everest	Read Replies (1) \| Respond to of 3558

News Release Deacon Capital says ABX a buy Post says Deacon analyst keen but cautious Barrick Gold Corp ABX Shares issued 372,817,172 Jan 2 close $26.85 Monday, January 05, 1998 2:39 PM In the News Also Prime Resources Group Inc (PRU) Also Euro-Nevada Mining Corporation (EN) The Financial Post reports in its Saturday edition that mining analysts continue to urge caution. Reporter Paul Bagnell notes they say there are some good companies with undervalued shares out there, but the outlook for most metal prices ranges from poor to mixed. Gold analyst Catherine Gignac of Deacon Capital says that investors should underweight gold stocks in their portfolios, but not stay completely on the sidelines, as the leverage is tremendous. Ms Gignac is assuming a gold price of US$300 an ounce in its current calculations for 1998. Ms Gignac currently recommends only three gold stocks as buys: Barrick Gold, which ended the year at $26.65, Prime Resources Group and Euro-Nevada Mining. She says that a small upswing in the price of gold can lead to significant gains in stock prices.