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Gold/Mining/Energy : Barrick Gold (ABX) -- Ignore unavailable to you. Want to Upgrade?

To: ahhaha who wrote (1190)	4/22/1999 5:30:00 PM
From: Enigma	Read Replies (1) \| Respond to of 3558

From the beginning Barrick has hedged for a variety of reasons. The main reason, as for all true hedgers, is to fix their future commodity price so they only have to concentrate on controlling costs and maximizing production. Another reason they have hedged is to finance major projects out of anticipated gold receipts. In some years they have been effectively hedged for many years ahead. The other thing Barrick has consistently done is to low ball production estimates - no doubt this has pleased institutions and analysts, because ABX has consistently exceeded targets. dd