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

To: Ken Benes who wrote (34155)	5/19/1999 10:01:00 AM
From: Enigma	Read Replies (2) \| Respond to of 116815

Ken - surely the whole point of hedging by Barrick and others is that they are profitable for many years out - even if the POG falls to $250 or lower. So doesn't this justify their policy of hedging, and why on earth should they change it? I don't know Barrick's average mining cost but guess it's around $150/oz - and this is it's criteria for new projects too presumably. Some companies don't hedge - that's their decision - but why are you on Barrick's back for a practice which is emminently sensible. How could they have brought their major projects on stream without hedging? d