Barrick Mining may have Defaulted on its Foreward Hedges

[nadcarves]

Barrick Mining may have Defaulted on it's Foreward Hedges

Barrick is not delivering foreward gold under it's hedge program. Those who would be getting the gold have to do with paper, either in stocks or cash.. The gold they would have gotten ,may have been promised to someone else down the line...................If the gold was promised out, these people either default on supplying Gold gold, pay off in paper, or go belly up. I guess a lot of gold has been recycled to the banks by Cash for Gold type operations paying 30 to 40 percent of the actual gold value. In any event, all the slop about not being able to eat gold is pure Bull.Gold is returning to its proper place as money..The law of economics that determines the price is "Quality is the inverse of Quantity." The more printed paper, the less value it has. The take off is almost here, prices are going to be whacked and battered, in an attempt to hide the hollow system... So, when someone says "''Money Talks", Remember, "Gold Yells", and Silver will kick........Cordially Nadcarves

 

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[goldsworthy]

Re: Barrick Mining may have Defaulted on it's Foreward Hedges

Barrick didnt defalt they just sold their options because they know gold is headed higher in price. BRIEF-Barrick announces exercise of over-allotment option by underwriters
Thursday September 10, 2009 18:23:47 EDT
Sept 10 (Reuters) - Barrick Gold Corp: * Announces exercise of over-allotment option by underwriters * Says underwriting syndicate exercised in full over-allotment option to buy additional 14.21 million shares * Says underwriters excercised option at $36.95 per share * Says common shares outstanding are expected to increase to approximately 982.7 million ((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780

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