Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: C Hudson who wrote (29840)	3/12/1999 4:11:00 PM
From: Zardoz	Respond to of 116770

Warning: Gold Bear Comment Follows. "I just read an 800,000 share block was just purchased for ABX (Barrick) on an uptick! I'm not making a recommendation at all as I know the rules for this thread (I don't own Barrick, they hedge too much) but I thought it may portend something for the gold market in general." It was a crossed trade {done at the ask price}, as was many of the blocks in Canada over 50,000 shares up were. This is verified by the bid-ask volume before and after the trade. With the POG falling -$3.+ on the day, and then bouncing up, the trades are more likely a technical short. As the XAU also suggests. Other possibilities are a currency hedge, as the volume in Canada and USA are not disimiliar.

To: C Hudson who wrote (29840)	3/12/1999 6:48:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116770

TrizecHahn Selling $204 Million of Bonds to Refinance Debt Toronto, March 11 (Bloomberg) -- TrizecHahn Corp., one of North America's largest real estate companies, said it will sell $204 million of bonds to refinance some debt at a lower interest rate. The Toronto-based company said the proceeds from the 25-year bonds will be used to redeem half of $600 million face amount of higher-interest bonds, saving it about $5.5 million a year. The new bonds are being sold through Newcrest Capital Inc. in a private placement expected to be completed Friday, the company said. The bonds are convertible into common shares of Barrick Gold Corp., a company controlled by TrizecHahn Chairman Peter Munk. Interest on the bonds is payable based on the dividend on Barrick's common shares plus 1.35 percentage points. Barrick paid a dividend of 18 cents a share in 1998, for a yield of 0.95 percent. The old bonds, which mature in December 2018, pay an annual interest rate of 3.25 percent and are also convertible into Barrick shares. TrizecHahn said it plans to redeem the balance of the 3.25 percent bonds. TrizecHahn -- formed from the merger of Horsham Corp. and Trizec Corp. in 1996 -- is one of the North America's fastest- growing real estate companies. It controls $6 billion of real estate in North America and Europe. It owns or has a stake in 119 properties with 65 million square feet of space. NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min. Access More Information and Services Above ©1999 Bloomberg, LP. All rights reserved. Terms of Service and Trademarks.