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Daily Dispatches
Updated essay on Barrick by Reg Howe
Submitted by cpowell on Fri, 1999-12-17 03:00 Section: Daily Dispatches12:45a EST Friday, December 17, 1999
Dear Friend of GATA and Gold:
Reginald H. Howe, Harvard-trained lawyer and former
mining company executive, explains in detail here the
hedging situation of Barrick Gold. Howe argues that
Barrick's hedge is twice as risky as an ordinary hedge,
that the big move in gold that is the dream of the gold
bugs is really Barrick's worst nightmare, and that such
Indications said to be bullish for gold
Submitted by cpowell on Fri, 1999-12-17 03:00 Section: Daily Dispatches11:30p EST Friday, December 17, 1999
Dear Friend of GATA and Gold:
Here's an updated version of Reginald H. Howe's
essay of yesterday explaining Barrick Gold's hedging
strategy. This version includes a clarification, but I
don't think it changes the substance of Howe's point
at all.
CHRIS POWELL, Secretary
Gold Anti-Trust Action Committee Inc.
* * *
You Bet Your Life:
Barrick vs. Gold Bugs
Tell us what''s going on at Fort Knox
Submitted by cpowell on Fri, 1999-12-17 03:00 Section: Daily Dispatches12:10a EST Saturday, December 18, 1999
Dear Friend of GATA and Gold:
Here's the latest gold prognostication by Steve Kaplan
at www.goldminingoutlook.com. While he has been wrong
forever on the general equities market and particularly
our mutual favorite, EBAY, he picked the recent top in
gold almost to the minute, so you may want to pay
special attention to this, which echoes what GATA
Hailey''s crusade featured in Canadian Business
Submitted by cpowell on Thu, 1999-12-16 03:00 Section: Daily Dispatches10:45p EST Wednesday, December 15, 1999
Dear Friend of GATA and Gold:
GATA Chairman Bill quot;Midasquot; Murphy will answer
questions from an Internet audience from 10 to 11
p.m. EST Thursday at www.kitco.com. The site
and the conference will be open to all. Take a look!
CHRIS POWELL, Secretary
Armstrong accused of hiding valuables
Submitted by cpowell on Thu, 1999-12-16 03:00 Section: Daily DispatchesNoon EST Thursday, December 16, 1999
Dear Friend of GATA and Gold:
Our good friend Arthur Hailey has carried the gold
cause back to his native Canada with the article
written about him in the November 25 issue of
Canadian Business magazine.
You may especially enjoy the abuse Hailey suffers
from Barrick Gold at the end of the article. Rather
than argue with Hailey on the merits of the issues
Beware, for GATA gets emotional about stock
Submitted by cpowell on Thu, 1999-12-16 03:00 Section: Daily Dispatches10:45p EST Thursday, December 16, 1999
Dear Friend of GATA and Gold:
Here's a story with the latest development about the
noted gold bear Martin Armstrong, whose latest problem
seems to be that his girlfriend is giving evidence
against him. I know that Armstrong is someone so many
gold partisans loved to hate, but he hasn't been
convicted of anything yet, and we should remember that
the government that is prosecuting him now is the same
Agnico-Eagle avoids forward sales
Submitted by cpowell on Thu, 1999-12-16 03:00 Section: Daily Dispatches10:50p EST Thursday, December 16, 1999
Dear Friend of GATA and Gold:
Here are a couple of comments from GATA subscribers
that may be of interest.
The first, from Frank, makes a point I've made often in
individual posts at various gold-related bulletin boards. It
bears repeating.
That is, GATA (as distinguished from GATA Chairman
Bill Murphy's financial commentaries written for his
Will Britain ever get its gold back?
Submitted by cpowell on Thu, 1999-12-16 03:00 Section: Daily Dispatches11:10p EST Thursday, December 16, 1999
Dear Friend of GATA and Gold:
You might be interested in this press release today
from Agnico-Eagle Mines Ltd., which stresses that the
company's hedging is entirely a matter of obtaining
downside protection by buying puts while leaving the
company fully exposed to any rise in the price of gold.
No gold price-depressing forward sales here.
CHRIS POWELL, Secretary
Gold bugs'' dream is Barrick''s nightmare
Submitted by cpowell on Thu, 1999-12-16 03:00 Section: Daily Dispatches11:25p EST Thursday, December 16, 1999
Dear Friend of GATA and Gold:
Looks like the gold issue can't be suppressed in
London, thanks, today, to Anthony Hilton and the
Evening Standard.
CHRIS POWELL, Secretary
Gold Anti-Trust Action Committee Inc.
* * *
UNANSWERED QUESTIONS
ABOUT BRITAIN'S GOLD
By Anthony Hilton
City Editor
London Evening Standard
December 16, 1999
Treasury Minister Melanie Johnson must be wondering why
Financial Times sees end to gold hedging
Submitted by cpowell on Wed, 1999-12-15 03:00 Section: Daily Dispatches12:25a EDT Wednesday, December 15, 1999
Dear Friend of GATA and Gold:
We owe another debt of gratitude to our good friend
Arthur Hailey, the novelist and longtime advocate of
gold's traditional monetary function, who remarks
favorably about GATA in a big feature story about him
in the current issue of BusinessAge magazine. The
story follows. Please post it as seems useful.
CHRIS POWELL, Secretary/Treasurer
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