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Gold/Mining/Energy : William Resources - WIM-TSE -- Ignore unavailable to you. Want to Upgrade?

To: gmweber who wrote (927)	2/13/1998 9:25:00 PM
From: Lalit Jain	Respond to of 1326

gmweber, Thanks for the info. I will update my sheet soon. have been busy lately. Regards, Lalit Jain

To: gmweber who wrote (927)	2/15/1998 2:56:00 PM
From: Lilian Debray	Read Replies (1) \| Respond to of 1326

Why didn't Barrick close out its hedge? It is more profitable for a large producer to keep it open: "For 1997, Barrick's hedging program delivered record results, contributing US$200 million in earnings. Hedging realized US$420 per ounce of gold, generating a premium of US$88 an ounce over the 1997 average spot price of US$332. Barrick has its full planned production covered into the year 2000. With 10.1 million ounces of gold hedged at US$400 an ounce, the Company benefits from the income earned from this US$4 billion position." fin-info.com