Agoracom: Small Cap Investment - San Gold Corporation - Re: Barrick's Hedge Book

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San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.

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Re: Barrick's Hedge Book - A Recipe for Disaster?...Sorry

in response to

Re: Barrick's Hedge Book - A Recipe for Disaster?...Sorry

Lunch Meat

posted on Sep 09, 2009 04:50AM

The company will use $1.9 billion of the proceeds to eliminate all of its fixed-price gold contracts -- on which the company effectively lost money every time the gold price rose -- by purchasing gold on the open market and delivering it into the contracts.