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To: Enigma who wrote (9168)	4/2/1998 10:26:00 AM
From: MtnBear	Respond to of 116758

FLASH: 10:20 EST POG UP Strong, XAU UP; Yellow Metal in the lead; Black Gold a little late leaving the gate, but going to be a race!! Good Luck to All; Mtn Bear

To: Enigma who wrote (9168)	4/2/1998 10:37:00 AM
From: IngotWeTrust	Read Replies (1) \| Respond to of 116758

wld like 2 remind thread: Munk's bragged re: his uniquely saavy way o'writing his hedge options... so that if the price o'AU went up, he was protected and could take advantage of same, and if it went down he was hedged quite handsomely also. O/49r

To: Enigma who wrote (9168)	4/2/1998 10:44:00 AM
From: Casey	Read Replies (1) \| Respond to of 116758

enigme: <<However the beauty of Barrick's situation is that it has call options in place to ensure that it participates even when the spot price exceeds the forward price - the last I heard was that it will participate to the extent of 60% of a move beyond the hedge price. Very clever, and innovative. (I notice that Peter Lynch completely missed this in his (positive) comments about Barrick)>> thought I read that Barrick were short the calls? Guess not.