Barrick - Muahahahahahahah

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tonguefu's picture
tonguefu
Status: Member (Offline)
Joined: Dec 30 2008
Posts: 11
Barrick - Muahahahahahahah

Interesting to say the least!

 

http://www.reuters.com/article/ousivMolt/idUSTRE58767F20090908

Dogs_In_A_Pile's picture
Dogs_In_A_Pile
Status: Martenson Brigade Member (Offline)
Joined: Jan 4 2009
Posts: 2606
Re: Barrick - Muahahahahahahah

From the article (good one BTW)

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

So we should expect to see the price of gold rise even further. 

Where do we start shining the flashlight if it doesn't?

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