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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Edmund Lee who wrote (21309)	10/9/1998 7:33:00 PM
From: Alan Whirlwind	Read Replies (2) \| Respond to of 116764

"However ABX have a large hedged position around $400. If gold rises above that price, all profit will belong to the buyer." If gold rises above that price I'll dump the whole shebang and get the hell out of Dodge. Little Joe: Kaplan is finally admitting what has been bantered about on this and other threads for months--that if gold breaks $300 producer hedging will knock it down. His new news was no news.

To: Edmund Lee who wrote (21309)	10/10/1998 2:12:00 AM
From: Enigma	Respond to of 116764

Edmund - re ABX "If gold rises above that price, all profit will belong to the buyer" Categorically not so!!. If you look at Barrick's hedging/options programme they participate to a substantial extent in any move above the hedged price - the figure used to be 60%. This is why Barrick is such a financial powerhouse cf Newmont and others. E

To: Edmund Lee who wrote (21309)	10/11/1998 11:45:00 PM
From: IngotWeTrust	Read Replies (1) \| Respond to of 116764

Lee sez: However ABX have a large hedged position around $400. If gold rises above that price, all profit will belong to the buyer. au contraire... ABX has structured their peculiar brand of forward contracts with a sweet little kicker that allows ABX the benefit of a rising in gold prices...NOT the buyer. Please recheck your facts before making that erroneous claim again. The correct info about ABX's hedges is on lemetropolecafe.com under "coffee's on" thread of James Joyce's table. Good investing! O/49r