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

To: long-gone who wrote (22110)	10/22/1998 9:33:00 AM
From: goldsnow	Read Replies (2) \| Respond to of 116758

Headline: Barrick Gold Reports 3rd-Quarter Profit On Higher Production, Sales ====================================================================== Barrick Gold Corp. - Toronto 3rd Quar Sept. 30: 1998 1997 Revenues -a $324,000,000 $314,000,000 Net income 76,000,000 b (315,000,000) Shr ern (basic) Net income .20 b (.84) Figures in parentheses are losses. a. Represents revenues from gold sales. b. Includes a non-cash provision of $385 million, or $1.03 a share. Barrick Gold Corp. (ABX), Toronto, said its growth in the first nine months was due to higher production, significantly lower costs and the premium earned on its gold sales. Barrick said gold production rose 5% to 2.3 million ounces in the first nine months, compared with a year earlier. The company said its 1998 production target is 3.1 million ounces. Barrick said its cash operating costs declined 14% to $160 an ounce in the latest nine-month period, compared with $186 an ounce a year earlier. The company said its focus on productivity led to lower unit costs at all operations. Total cash costs, including royalties and production taxes, declined to $181 an ounce in the latest nine months, compared with $209 an ounce a year earlier. Barrick said production at its Goldstrike property increased 10% to 1.7 million ounces, with the Meikle mine producing almost 700,000 ounces in the first nine months of 1998. The company said the Meikle mine exceeded all targets and was a major contributor to Barrick's nine-month performance. The company said it realized an average of $400 an ounce on production in the latest nine months, a premium of $105 an ounce on the average spot price for the period. It said it has 10.4 million ounces sold forward, including production through 2000, at an average of $400 an ounce. Barrick is a gold-mining company. Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved

To: long-gone who wrote (22110)	10/22/1998 9:15:00 PM
From: goldsnow	Read Replies (4) \| Respond to of 116758

Complaining about what Gvn? Here is an example of blatant activities, not in Gold but same nevertheless... Reserves slip to US$88.4b PETER CHAN Hong Kong's foreign reserves declined slightly in September to US$88.4 billion from $92.1 billion in the previous month, still the third-largest in the world after Japan and the mainland. A Hong Kong Monetary Authority spokesman said the decline was primarily due to execution of orders to sell $4.4 billion on August 28 and 31 which were settled on September 1 and 2. The sale was to generate funds to finance the SAR Government's intervention in the local stock and futures markets in an effort to counteract "multilateral, cross-markets" manipulation by hedge funds. After adjusting for these foreign-exchange transactions, September's foreign reserve balance should be $6 billion higher than August's adjusted figure of $87.6 billion. The spokesman said the increase represented investment gains. As of the end of September, the Exchange Fund balance stood at $69.3 billion, down from August's $73.4 billion. The Land Fund balance was $19.1 billion, up from $18.7 billion the previous month. scmp.com