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Home > Barrick eliminates non-project hedges but still owes 9.5 million oz.

Barrick eliminates non-project hedges but still owes 9.5 million oz.

Submitted by cpowell on Fri, 2007-02-23 23:50 Section: Daily Dispatches

By Dorothy Kosich
MineWeb.com
Friday, February 23, 2007

Barrick Gold announced Thursday that it has eliminated all non-project related hedge contracts but will retain 9.5 million ounces of project gold forward sales contracts. ...

While analysts viewed the further 1 million ounce reduction of Barrick's hedgebook during January and February as positive, they also noted it resulted in a $327 million or 37-cents-per-share reduction to fourth-quarter profits. Wilkins told analysts Thursday that Barrick is studying options to deal with the embedded mark-to-market loss. ...

... For the full story:

http://www.mineweb.net/mining_finance/636352.htm [1]

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Source URL: http://gata.org/node/4852

Links
[1] http://www.mineweb.net/mining_finance/636352.htm
[2] http://www.GATA.org