!-- Go to www.addthis.com/dashboard to customize your tools -->
Hardinvestor HardinvestorTraduire: TraductionSuivre:  Hardinvestor sur TwitterHardinvestor sur FacebookVidéos Hardinvestor DailymotionVidéos Hardinvestor YoutubePartager:  Partager

Hardinvestor- Investir sur l’or et l’argent Hard Investor   |  Silver is King, Go gold!

Pourquoi et comment investir dans l’or et l’argent ? Plus qu’un placement d’opportunité, il s’agit avant tout de sécuriser le pouvoir d’achat de votre épargne contre l’érosion monétaire et les conséquences de la crise systémique mondiale, tout en déjouant les pièges que réserve le marché de l’or et de l’argent, à l’investisseur non averti.


 

 Partagez  |

ABX /Barrick Gold: une bombe à retardement

Voir le sujet précédent Voir le sujet suivant Aller en bas
Aller à la page : Précédent  1, 2, 3  Suivant
MessageAuteur
MessageRe: ABX /Barrick Gold: une bombe à retardement
par marie Sam 12 Sep 2009 - 14:59

cette annonce de barrick est abasolument déterminante, dans le mouvement de hausse actuel ..
Nouveaux commentaires de A Douglas

www.lemetropolecafe.com

Barrick Gold, what FUN...
Bill,
As always with Barrick they use deception. In 2007 they were using language that sounded like they had eliminated all hedges as they announced the elimination of all corporate hedges…but in the fine print was all the project hedges. In this news release they have a headline of “Barrick Announces Plan to Eliminate Gold Hedges”. From the table below you can see this is not true as 2.7B$ of hedges remain.

It appears they will buyback or produce gold to eliminate the 3Mozs of gold hedges and pay-off in dollars 1B$ against the floating contracts because they say “The obligation under the Floating Contracts is economically similar to a fixed US dollar obligation. No activity in the gold market is required to settle the Floating Contracts”. So my question is why in the accounting summary table above is any of the 1.9B$ of the proceeds of the equity sale booked against the gold hedges?? Why not book 2.9 B$ against the floating contracts and leave the gold hedges to be produced into. In fact they have made a later news release that they are raining 4.5B$. This would allow the elimination of all the floating rate contracts so if these can be paid in dollars as they claim why not show these contracts will be eliminated and the gold hedges will be paid out of production which would represent about 3 months of production? Things are never what they seem with Barrick! In my view the reason for them putting 1.9B$ against the gold hedges is that they are being paid off in dollars…ie a default. The rest of the hedges are being partially paid off in dollars (seems that this is allowed under the contracts) and then they are going to raise more money to pay off the balance also in dollars. I conclude JPM is going to get mostly fiat dollars and not much gold!
Cheers
Adrian



© Marie Forum Argent Or. reproduction interdite : pas de copier-coller. Faites un lien vers ce post. Suivez Hardinvestor sur Twitter et sur Facebook

   marie

  Skipper
 Skipper

  avatar

  Inscription :   05/02/2005
  Messages :   19731

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par marie Dim 13 Sep 2009 - 18:21

interview de Rob Kirby sur le sujet ..
il déclare qu'avec l'ak, barrick ne pourra dénouer qu'un tiers de sa short position gold ..
il explique par ailleurs comment la FED controle les taux via JPM et les dérivés de taux d'intérêt

http://www.gata.org/node/7786



© Marie Forum Argent Or. reproduction interdite : pas de copier-coller. Faites un lien vers ce post. Suivez Hardinvestor sur Twitter et sur Facebook

   marie

  Skipper
 Skipper

  avatar

  Inscription :   05/02/2005
  Messages :   19731

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par marie Mar 15 Sep 2009 - 21:53

Butler ce soir ..( Butler qui suit ce dossier depuis le début, je le rappelle aux newbees) ..

http://news.silverseek.com/SilverSeek/1252940702.php




© Marie Forum Argent Or. reproduction interdite : pas de copier-coller. Faites un lien vers ce post. Suivez Hardinvestor sur Twitter et sur Facebook

   marie

  Skipper
 Skipper

  avatar

  Inscription :   05/02/2005
  Messages :   19731

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par marie Mar 15 Sep 2009 - 23:46

une rumeur.. sur le fait que ce serait le FMI qui viendrait à la rescousse de Barrick avec ses 400 T

www.lemetropolecafe.com


JUST IN, a rumor from yet another VERY plugged-in Café member…
There is a just a faint whisper in London that IMF has bailed Barrick out of its hedge-book. That’s how the CEO of Barrick can say that the close out will not affect the gold market.
Obviously it needs verifying but:
· Goldman said to biggest holder of Barrick’s toxic hedges are a central bankers’ bank
· Goldman, said to be the biggest holder of Barrick’s toxic hedges, is a central bankers’ bank
· IMF can tell them – "Don’t worry, it’s coming from us"
If you take Barrick’s $5.6 billion MTM loss and add to it the amount they got for the gold when they borrowed and sold it and then divide the total by $1,000 the answer is awfully near the number of ounces IMF says it wants to sell.



© Marie Forum Argent Or. reproduction interdite : pas de copier-coller. Faites un lien vers ce post. Suivez Hardinvestor sur Twitter et sur Facebook

   marie

  Skipper
 Skipper

  avatar

  Inscription :   05/02/2005
  Messages :   19731

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par marie Sam 19 Sep 2009 - 18:09

tiens, j'aurais des transmissions de pensée avec Jim Willie ??
lui aussi fait le rapprochement entre cette annonce pour le moins étonnante de barrick et l'affaire du défault chinois otc ..un truc auquel je pensais..

www.lemetropolecafe.com

Barrick Gold Ripe for Bear Raid
by Jim Willie, CB. Editor, Hat Trick Letter | September 17, 2009


Burn, Baby, Burn !!!
Could it be that one response to the Chinese shot across the bow of the corrupted and leaky USS Derivative ship at sea is the announcement that Barrick Gold to cover their entire hedge book… again? Maybe! They covered them all in 2007, didn’t they? They said they did! This is turning out to be an event every two years. Maybe in 2011 they will announce cover and closure of their entire hedge book again. Last time, the key words in the fine print were closure of all hedged gold positions from operating mines. That meant they were willing to lose billion$ in shareholder equity on all mines not yet open, but with ongoing gold price exposure. No wonder they installed a new CEO recently. They have burned through over 20 years of profit in this hedge book strategy, useful for the USGovt but disastrous for shareholders. The ongoing dilution of their stock will continue for a few years more. The next big question is where will Barrick purchase the gold to fulfill the contracts and retire them with metal delivery. It looks like the open market. Maybe the source will be IMF gold bullion. Maybe they own a raft of StreetTracks GLD shares passed under the table from hedge funds. Their operations suffer greatly, from capital drained for balance sheet repair rather than mine development. They boast being a giant among miners, but their production given their equity is pathetically low. They remain a finance firm masquerading as a mining organization, and have finally been caught with their pants at their ankles.
Why the Barrick Gold (symbol: ABX) stock is not cut in half promptly is a mystery to me. They implicitly admit a grand lie from two years ago, with remaining grand hedge book exposure. Perhaps because it remains somewhat a sickly darling among institutions, which are probably either dumb as fence posts or bribed by simple lavish lunches and government back scratches. The Barrick news should be considered as a link in a chain of events likely to unfold in the next several months..
-END-
Jim is correct. Barrick has been playing coy with the gold analysts and the public about their hedgebook for a couple of years now. They flat out said two years ago they had eliminated their hedges. Naturally, all of us on Planet GATA rolled our eyes because it was clear they still had nearly 10 million ounces (something like that) on their books, yet the Planet Wall Street analysts and the rest of the mainstream gold world gave them a pass.
Two years later little has changed regarding that pass. Once again Barrick says their hedge book is history, but is hazier than ever…
*One of the most highly respected guys I know in the industry says they haven’t covered anything yet.
*Adrian says whatever they have covered has been done with a cash transaction and thereby they defaulted on their gold loan.
*Then a very plugged-in Café member in London mentioned "
a faint whisper in London that IMF has bailed Barrick out of its hedge-book."
*The Muppets are falling all over Barrick because they say they have covered all their hedges.

Well, for sure Barrick has put out another smokescreen. What is inexcusable is how The Muppet world and gold analysts bow down to Barrick and let them get away with anything they want the public domain to think. It is sickening.
Barrick still has some major league problems due to their errant hedging and complicity with the rest of The Gold Cartel. One day this will all come out in the wash.



© Marie Forum Argent Or. reproduction interdite : pas de copier-coller. Faites un lien vers ce post. Suivez Hardinvestor sur Twitter et sur Facebook

   marie

  Skipper
 Skipper

  avatar

  Inscription :   05/02/2005
  Messages :   19731

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par marie Jeu 15 Oct 2009 - 1:19

barrick continue à chercher de l'argent , les 4 milliards de $ qu'ils ont "récolté "ne leur suffisent pas ..

http://finance.yahoo.com/news/Barrick-Announces-Pricing-of-iw-14417769.html?x=0&.v=1&.pf=loans&mod=pf-loans

encore $1.5 milliards de plus, pour boucler leur hedge book?? hoho encore un signal fort, lancé au marché ..

http://truthingold.blogspot.com/2009/10/american-barrick-issues-125-billion-in.html



© Marie Forum Argent Or. reproduction interdite : pas de copier-coller. Faites un lien vers ce post. Suivez Hardinvestor sur Twitter et sur Facebook

   marie

  Skipper
 Skipper

  avatar

  Inscription :   05/02/2005
  Messages :   19731

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par marie Ven 30 Oct 2009 - 0:14

barrick annonce une perte nette de $5.7 milliards



www.lemetropolecafe.com


Oh, do I love this stuff. I can remember (like it was yesterday) former Barrick CEO mocking GATA publicly and calling us a bunch of nuts because of our aggressive barrage assailing Barrick’s ludicrous hedging program with the price of gold around $300 … one put in play to assist The Gold Cartel. Well, this is what they get and deserve for dissing us…


Barrick Gold posts net loss on $5.7 billion charge

TORONTO, Oct 29 (Reuters) - Barrick Gold Corp (ABX.TO) reported a third-quarter net loss on Thursday as it absorbed a $5.7 billion charge to unwind gold hedges, but the Canadian miner said core earnings rose, helped by higher gold prices…
-END-
12:17
ABX Barrick Gold may sell non-core assets to raise acquisition funds - Bloomberg ($36.00 +$2.17)
Citing the CEO in an interview.
* * * * *
Now, the question is WHEN and HOW are they going to cover their hedges? Maybe they were in there buying today.
JUST IN, late...
On the Call: Barrick Gold CEO Aaron Regent
By The Associated Press (AP) – 1 hour ago
Barrick Gold Corp. took a $5.7 billion charge in the third quarter stemming from the Toronto-based gold producer's decision to eliminate all its gold hedges.
The hedges are futures contracts that commit Barrick to sell the metal at predetermined prices.
While the contracts guarantee certain cash flows, they often commit Barrick to sell gold at prices lower than the current spot price. Barrick also has said it believes holding the hedges hurt its appeal among investors and weighed on its share price.
Aaron Regent, Barrick's president and chief executive officer, discussed the decision with analysts Thursday during a conference call.
QUESTION: Why didn't you reduce the fixed hedges more so than the floating hedges?
ANSWER: "I think they're two different animals. The floating hedges really are, as you know, just a crystallized liability; it's just money that we owe the banks.
"And so the timing of that just represents the, I guess the best opportunity that we have to pay down the banks ... in the most efficient way, and so that's really just a cash settlement.
"So there are a number of factors that go into our decision ... so that's a separate issue.
"On the fixed book, that really depends on WHEN we go into the market and buy the gold.
"So that's market-sensitive and we want to be opportunistic in the marketplace when we buy the gold back, so that really depends on when we buy the gold, the fixed book, whereas the floating book is strictly just a ... payment obligation that we have options on."



© Marie Forum Argent Or. reproduction interdite : pas de copier-coller. Faites un lien vers ce post. Suivez Hardinvestor sur Twitter et sur Facebook

   marie

  Skipper
 Skipper

  avatar

  Inscription :   05/02/2005
  Messages :   19731

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par g.sandro Ven 30 Oct 2009 - 1:21




Silver is king, Go Gold !
© G.Sandro Forum Argent Or, pas de copier collé, faire un lien vers ce post
Suivez Hardinvestor sur Twitter et sur Facebook


   g.sandro

  Captain
 Captain

  avatar

  Inscription :   04/02/2005
  Messages :   12334

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par nofear Ven 30 Oct 2009 - 7:47

C'est quand même dingue (louche) cette histoire non ? comment la 1ere mine d'or au monde peut -elle perdre 6 Milliards de $ (avoués) alors que le prix spot a été X5 depuis 2001 ?

Cherchez l'erreur ou autre chose de plus probable et logique...

   nofear

  Chef cuistot
 Chef cuistot

  avatar

  Inscription :   03/10/2009
  Messages :   2397

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par g.sandro Ven 30 Oct 2009 - 13:35

T'es sérieux? relis le titre de cette file et les posts qu'elle contient

le Hedging de plusieurs années de prod sur des niveaux de 300$/oz, 354$/oz etc...que nous n'avons eu de cesse de contester et de combattre est la seule cause de ces résultats calamiteux...@+



Silver is king, Go Gold !
© G.Sandro Forum Argent Or, pas de copier collé, faire un lien vers ce post
Suivez Hardinvestor sur Twitter et sur Facebook


   g.sandro

  Captain
 Captain

  avatar

  Inscription :   04/02/2005
  Messages :   12334

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par nofear Ven 30 Oct 2009 - 14:14

c'était du 2e degré , réflexion d'un quidam débarquant d'une autre planète en qq sorte...

je dirais plus prosaïquement (le hedging n'étant qu'un "outil") qu'ils ont volontairement vendu leur production à perte. Nous (goldospectateurs) savons "pourquoi" et cela n'en constitue pas moins une pratique frauduleuse légalement répréhensible... Les poursuites ne se font pas car il y a nécessairement eu une/des complicités financières. Pas de recours légal des actionnaires; le régulateur est bien sûr sourd et aveugle , comment vont ils boucher le "trou" qui se creuse à chaque $ du spot qui augmente ? bref ça sent le chapitre 11 et la saisie par cabalas pour une bouchée de pain. Ils avaient hier le contrôle sur barrick , aujourd'hui ils en sont les propriétaires , elle va tomber comme un fruit mûr.

   nofear

  Chef cuistot
 Chef cuistot

  avatar

  Inscription :   03/10/2009
  Messages :   2397

Revenir en haut Aller en bas
Messagenofear : Arrète de raconter des conneries...
par phv Lun 2 Nov 2009 - 16:58

Barrick Chapter 11 ???

- As-tu la moindre idée de qui force une société à "file for Chapter 11" ?
(Hint : +/- idem que pour le redressement judiciaire en France ...)

C'est-à dire que les Actifs ne couvrent pas le passif.

As-tu la moindre idée de ce que sont les actifs de Barrick ?

Non, alors, please stop posting like a complete moron...

Ce qui n'empèche en rien Barrick de faire des pertes cette année, et de se faire remonter les bretelle par leurs actionnaires à la prochaine AG.

But: "Tomorrow is another day"...

   phv

  Barreur
 Barreur

  avatar

  Inscription :   02/03/2009
  Messages :   245

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par nofear Lun 2 Nov 2009 - 18:13

je sais PARFAITEMENT ce qu'est un actif et un passif et un dépôt de bilan...
Barrick a vendu à perte depuis 15 ans et plus...

Peut être connais-tu les VRAIS chiffres de barrick ?

Enron, Parmalat, Worldcom et tutti quanti avaient des comptas très positives cher ami...

Nous verrons bien qui est le moron...

   nofear

  Chef cuistot
 Chef cuistot

  avatar

  Inscription :   03/10/2009
  Messages :   2397

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par marie Lun 2 Nov 2009 - 19:11

http://www.24hgold.com/francais/actualite-or-argent--angl-has-barrick-been-barricked-by-the-u-s-.aspx?contributor=Antal+E.+Fekete&article=2323406924G10020&redirect=Falseen théorie la faillite de Barrick n'est pas inimaginable ..

voir celle du 2 eme producteur autralien: Sons of gwallia

le 2eme producteur australien ... c'est pas rien ..

http://www.hardinvestor.net/les-hard-investors-f7/pour-les-fans-de-hedgees-style-barrick-denouement-t1458.htm

mais Barrick, c'est Caballas ... voir comment ils ont profité des attaques du cartel sur l'or .. pour raffler des juniors à prix kdo .. belle association de malfaiteurs

now, si "caballas fait faillite .. ", je ne donne pas cher de la peau de barrick ..

avis, purement perso ..

ps: le dernier Fekete à ce sujet ( traduit en bon français )
il raisonne comme si barrick allait réellement couvrir ses hedges ( cad payer en or ).. ce qui amah ne sera pas le cas..

cliquer ici



© Marie Forum Argent Or. reproduction interdite : pas de copier-coller. Faites un lien vers ce post. Suivez Hardinvestor sur Twitter et sur Facebook


Dernière édition par marie le Mar 3 Nov 2009 - 0:36, édité 3 fois

   marie

  Skipper
 Skipper

  avatar

  Inscription :   05/02/2005
  Messages :   19731

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par marie Lun 2 Nov 2009 - 23:46

nouvelles déclarations du patron de barrick.. et commentaires d'Adrian Douglas

www.lemetropolecafe.com



Barrick may close hedgebook ahead of plan
* Barrick says bought back 1 million oz of gold in Oct
* Could complete programme before 12 month window
* Sees global gold mine production in continuing decline

EDINBURGH, Nov 2 (Reuters) - Barrick Gold , the world's biggest miner of the precious metal, said it may complete the planned closure of its hedgebook announced last month before the end of the 12-month window it had set.
Barrick Chief Financial Officer Jamie Sokalsky also told Reuters the company had bought back 1 million ounces of hedged gold in October.

"We are going to be opportunistic, and we're going to be responsive to the market, but we will have it done by 12 months at the latest," Sokalsky said on the sidelines of the London Bullion Market Association's annual conference.
"We could very well do it before then," he said, adding: "The market was right for us in October to buy the million ounces and we'll see what transpires going forward."
Hedging allows producers to lock in prices for future output, but the strategy can backfire if prices rise significantly.
"The hedgebook had been a disadvantage to our share price, because shareholders didn't think we had (exposure to) upside to the gold price," Sokalasky said.
"By taking away the cap, we should be able to more fully benefit, as we believe the gold prices will rise significantly."
A combination of global economic, political and financial uncertainty and strong fundamentals -- good investment demand combined with constrained mine supply -- mean gold could set new highs in the near future, he said.
"It is hard to put a number on it, but if you look at where gold rose to back in the early 1980s on an inflation-adjusted basis, it was over $2,000 an ounce," he said.
"I am not necessarily predicting that, but I think we can certainly go up by a few hundred dollars, maybe higher," he said.
Gold's record high is $1,070.40 an ounce, set in October.
Sokalsky also said Barrick believes gold mine supply will continue to fall, which would support the gold price.
"There has been a dearth of big gold discoveries, exploration spending had dried up when the gold price was under $300 more than a decade ago, and as a result, there haven't been a lot of exploration finds," he said.
-END-

*****************
Yes Barrick, exploration spending did dry up and YOU and Gold Cartel allies were the ones responsible for that dearth. Meanwhile, if the likes of a Barrick was covering, who were the commercial short positions for. We know. Why don’t any of the lame ones in the mainstream gold world ever ask?
Adrian...
Barrick
Bill,
As you know I have been approaching the analysis of the LBMA OTC gold market from different angles and I have inferred that they are running a fractional reserve system. This is made possible because the gold is traded in unallocated accounts and many customers don’t take delivery and leave the gold that they believe they have bought in the LBMA vaults. I calculate that the amount of gold that has been sold that doesn’t exist, paper gold if you will, could be around 50,000t. What struck me today in the GATA release about Barrick hedges is the following:
QUOTE
Barrick Chief Financial Officer Jamie Sokalsky also told Reuters the company had bought back 1 million ounces of hedged gold in October.
"We are going to be opportunistic, and we're going to be responsive to the market, but we will have it done by 12 months at the latest," Sokalsky said on the sidelines of the London Bullion Market Association's annual conference.
"We could very well do it before then," he said, adding: "The market was right for us in October to buy the million ounces and we'll see what transpires going forward."
END


Notice where it was that Barrick’s CFO suddenly got an epiphany that they should accelerate the timing of covering their massive hedge book…it was at the London Bullion Market Association's annual conference!! Now do you think someone might have mentioned in the coffee break that investors are asking for their gold and pretty soon it’s going to be obvious that there’s more gold sold than there is available for delivery?
How could the market have been right for Barrick in October??? Gold went up 3.2% in the month…what is opportunistic about covering one million ounces in a rising market? There is only one freakin’ word for that and it is PANIC!
Seems awfully coincidental that it’s while attending the LBMA conference that the CFO reveals there is an even greater urgency for Barrick to cover hedges.
The plot thickens!
Cheers
Adrian



© Marie Forum Argent Or. reproduction interdite : pas de copier-coller. Faites un lien vers ce post. Suivez Hardinvestor sur Twitter et sur Facebook

   marie

  Skipper
 Skipper

  avatar

  Inscription :   05/02/2005
  Messages :   19731

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par marie Mar 1 Déc 2009 - 23:27

drolement rapide la Bourrique ... qui annonce avoir élininé tout ses hedges, aujourd'hui ..

ça me laisse septique .. tout comme ces commentaires du midas de ce soir

www.lemetropolecafe.com

07:33 ABX Barrick Gold eliminates all gold hedges ($42.69)
The company announced that it has completed the elimination of all of its Gold Hedges and now has full leverage to the gold price on the industry's largest gold production and reserves. In September, the company announced its plan to eliminate all of its Gold Hedges within 12 months and a substantial portion of the liability related to its fully participating Floating Contracts. To fund the elimination of the Gold Hedges and a substantial portion of the Floating Contracts liability, the company issued new equity in September for net proceeds of $3.9B and in October issued $1.25B in new long-term debt securities for total net proceeds of $5.1B. The subsequent change in the MTM of the Gold Hedges of $0.3B that occurred prior to elimination will be recorded as a charge to earnings in Q4. There will be no further charges to earnings related to changes in the MTM of Gold Hedges now that they have been fully eliminated. For 2010, the company expects gold production to grow to 7.7-8.1M ounces at lower total cash costs than 2009.
* * * * *
Just yesterday I noted they were part of the short problem, but no more … well, NOT SO FAST HERE. It struck me that it doesn’t say how they eliminated these hedges, especially since their CEO recently made a public statement in London they were looking for gold to retreat to $900. One thing about Barrick, they NEVER tell the entire truth and the gold press always gives them a free pass on whatever they say … which is why they keep doing what they do. We know how close Barrick is to JP Morgan Chase and we know they were instrumental players in The Gold Cartel years ago. I am not the only one in our camp who is suspicious of some funny stuff going on here…
Hi Bill:
Barrick Hedges

"With their elimination we no longer have any gold price related mark-to-market exposure and will now fully benefit from increases in the gold price," Regent said in a statement.

The question is "How did Barrick cover its hedges?". We know they raised cash, but...

Did they buy gold BULLION and deliver it?

Did they buy a derivative from a third party such as Bank of America (which could come with tremendous counter-party risk)?

Is risk simply shifted from "gold price risk" to "counter-party risk" or is any risk in any form associated with the original hedges now gone? If gone, what dilution was needed to accomplish this, or what dilution will still be needed to fund mine development.

If anyone of the Midas readers can expand on this it would be much appreciated.
Ron

Dave from Denver runs with the ball…
ABX Barrick Gold eliminates all gold hedges ($42.69)

LOL. I was wondering the same thing. I don't know if there's anyway to fnd the answer to that question unless we had access to the CEO and CFO. Notice they don't state that they closed out all their "Floating Contract" liability. So, once again ABX has issued a misleading claim about their liability exposure to the upside price of gold because they haven't completely closed out their hedges.
Without taking the time to pull out exact numbers from Barricks latest 10Q, let's assume the fixed, "Gold Hedge" portion of Barricks liability was $3.5 billion and let's say they were able to "close out" the hedge at an average of $1000/oz. (just to make the math easy, not precise, albeit in the ballpark). That translates into roughly 100 tons of gold that would have to be purchased between the end of September, when they announced the plan to close the hedges, and now. Do you think they would be able to buy that much actual physical gold, in competition with all the other huge buyers out there, without driving the price much higher than it is now? Perhaps they bought a $3.5 billion position in GLD and gave delivered those shares to their counterparties (being sarcastic).
In terms of the mechanics of the hedges, I would say that it's likely that Barrick was allowed to settle in cash, which means that the bullion banks on the other side of Barrick's hedges, who likely leased gold from the Fed in order to hedge out the trade, would be returning cash to the Fed instead of going back into the market and repurchasing the leased gold they sold. We'll never know the answers to these issues as long at the current White House and Congress support a Federal Reserve that is allowed to operate in almost complete secrecy. A good start would be to get rid of Bernanke and replace him with someone not connected in any way to Wall Street or the current Administration.
***
As does long time Café member Marcia…
a thought on Barrick hedge closure announcement
Bill,
How did ABX stealthily eliminate their hedges? Yes the gold price has gone up during the hedge elimination period, but I think it would have shot up even more if ABX had truly gone out and bought back their forward sales on the open market. So one considers a range of other possibilities. A new one came into mind with today's announcement. Of course maybe the whole thing is indeed US deep storage gold as our camp has long thought, but let's say what if the US didn't want to shoulder the true cost of the forward sales. All ABX would have to do is make a private deal with a cooperating government or central bank, as follows: They arrange to close their hedges by delivering future gold production at some arranged price or formula. Meanwhile the cooperating country claims to suddenly have become the world's largest gold producer, nevermind it takes half a dozen or more years to discover deposits, explore them, and determine the feasibility of mining the ore. So the country claims to suddenly have much larger gold reserves than before, but I doubt they will publish serial numbers or allows an audit of their treasure chest. Meanwhile ABX quietly keeps delivering into the hedges.

That is one possible scenario.
Marcia
One thing sure, there is more than meets the eye on this one.



© Marie Forum Argent Or. reproduction interdite : pas de copier-coller. Faites un lien vers ce post. Suivez Hardinvestor sur Twitter et sur Facebook

   marie

  Skipper
 Skipper

  avatar

  Inscription :   05/02/2005
  Messages :   19731

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par nofear Sam 19 Déc 2009 - 17:14

LEs commentaires du 22 nov dernier de Jim CB Willie.

NB il doit pas savoir ce que c'est qu'un dépôt de bilan lui non plus comme moi si j'en crois certain...

Citation :
BARRICK COLLAPSE IN SLOW MOTION
◄$$$ BARRICK GOLD TAKES ANOTHER HUGE LOSS, BUT ONLY ONE THIRD OF
HEDGES WERE CLOSED. THEY ARE CHRONIC LIARS AGAIN, BUT REMAIN
INSTITUTIONAL DARLINGS. SUCH IS EVIDENCE OF CORRUPTION IN THE
INVESTMENT BANKER COMMUNITY. $$$
Barrick Gold posted a mammoth $5.4 billion net loss after its claimed conclusion of its
ill-fated gold hedging program. The company raised a total of $5.1 billion issuance in
secondary stock and long-term debt. It eliminated ONLY 1.1 million ounces of gold from its
hedge book, equal to about one third of its overall hedged position. Past headlines
promised a complete removal of their hedge book. Not so! Just like a year ago. Their hedge
book will remain forever. They will cover ALL their hedge book again next year, probably less
than one third of it. They exhausted the benefits of raised funds, and suffered a gigantic loss,
again. They also exhausted their credibility, what was left of it. The stock has risen after the
event, testimony to a corrupted institutional environment. See the Canadian Business article
. My suspicion all along has been that bribes, kickbacks, and bonus fees are
paid to brokers who recommend this acid pit as a stock investment, even though it is among
the worst on the planet. They probably also receive government slush money. Barrick is
destined for ruin, bust, and liquidation, maybe lawsuits
. Speculation swirls that Barrick
halted its hedge book resolution since it could not find adequate gold supply to purchase.
That could be, but it also ran out of funds first, another lie.

   nofear

  Chef cuistot
 Chef cuistot

  avatar

  Inscription :   03/10/2009
  Messages :   2397

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par marie Sam 5 Mar 2011 - 18:00

ça va pas fort pour la bourrique ..

la plainte contre les droits de propriété de Pascua Lama est loin d'être éteinte

www.lemetropolecafe.com



MWR CALLS BARRICK OUT PUBLICLY ON PASCUA OWNERSHIP & SEC FILINGS

Hey Jim, Chris and Bill:
I sense a gigantic payday for all PM shareholders and holders of physical is in the offing!
This short squeeze will go parabolic for silver and gold once it's finally pried loose, releasing 30 years of pent-up pressure...Look out heavens, above! Praise the Almighty!

Are Blythe and the Morgue really naked-short some 20 Million silver ounces by proxy as some prop traders claim? Is Barrick the conduit for Uncle Sam and China? Does this amount include the Pascua silver ore body's 7 Million+ ounces? Can they deliver? Will they? When will the perp walks begin? Do you know where your naked-shorts are and who really owns them? And what happens tomorrow, hmm? News at 11:00.

"He who sells what isn't his'n, Must buy it back or go to pris'n" - Jesse Livermore

Respectfully Yours,
Mark


lien à copier coller

http://www.prnewswire.com/news-releases/mountain-west-resources-responds-
to-stockwatch-article-dated-january-17-2011-mountain-
west-tries-for-piece-of-barricks-pascua-lama-117371933.html



© Marie Forum Argent Or. reproduction interdite : pas de copier-coller. Faites un lien vers ce post. Suivez Hardinvestor sur Twitter et sur Facebook

   marie

  Skipper
 Skipper

  avatar

  Inscription :   05/02/2005
  Messages :   19731

Revenir en haut Aller en bas
MessageAaron Regent viré , un ex GS rejoint Munk comme co chairman
par marie Mer 6 Juin 2012 - 19:41




© Marie Forum Argent Or. reproduction interdite : pas de copier-coller. Faites un lien vers ce post. Suivez Hardinvestor sur Twitter et sur Facebook

   marie

  Skipper
 Skipper

  avatar

  Inscription :   05/02/2005
  Messages :   19731

Revenir en haut Aller en bas
MessagePascua Lama /suspension des mesures favorables à l'exploitation dans zone de glaciers
par nofear Mar 3 Juil 2012 - 21:40

Citation :

Argentine: suspension de mesures favorables à Barrick Gold dans une zone glaciaire




BUENOS AIRES - La Cour suprême argentine a annoncé mardi avoir suspendu
les mesures préventives prises par la justice de la province de San Juan
(ouest), à la demande notamment de la compagnie minière canadienne
Barrick Gold, qui freinaient l'application d'une loi de protection des
glaciers.

La Cour a rendu sans effet les mesures prises par la
justice fédérale de San Juan qui avaient été sollicitées par ces
entreprises minières, parmi lesquelles Barrick Gold. De cette manière,
la loi reste en vigueur, et il devra être procédé à un inventaire des
glaciers, entre autres questions, a-t-elle indiqué via le site internet
de son Centre d'information judiciaire (CIJ).

La loi sur les
glaciers avait été adoptée en septembre 2010 et interdit l'activité
minière dans les zones glaciaires et péri-glaciaires le long des 5.000
km de frontière commune avec le Chili.

Un texte dans ce sens adopté en 2008 était resté sans effet après un veto de la présidente Cristina Kirchner.

Les
mesures provisoires avait été réclamées en 2011 par les entreprises
Barrick Exploraciones Argentina et Exploraciones Mineras Argentinas,
afin de suspendre l'application de six articles de la loi, selon le CIJ.

D'autres
recours en inconstitutionnalité ont été introduits par l'Association
des ouvriers de mines et la compagnie Argentina Gold, filiale de
Barrick.

Ces mesures imposées en 2011 avaient pour objet de
ralentir la réalisation d'un Inventaire national des glaciers, de
limiter l'interdiction des activités qui détruisent des glaciers ou
l'obligation de réaliser des études d'impact environnemental, a détaillé
le CIJ.

Selon la Cour, cette loi cherche à préserver les
glaciers et l'environnement péri-glaciaire en tant que réserve de
ressources hydriques pour la consommation humaine (et) pour
l'agriculture notamment.

Le gigantesque gisement d'or de Barrick
Gold à Pascua Lama, une des principales mines d'or non exploitées au
monde, prévoit 3 milliards de dollars d'investissements pour 25 ans
d'exploitation.

Le gisement de Pascua Lama, situé près de
glaciers à 5.000 m d'altitude, à cheval sur les régions de San Juan en
Argentine (30%) et d'Atacama au Chili (70%), doit commencer à produire
début 2013.

©AFP / 03 juillet 2012 21h27)

http://www.romandie.com/news/n/_Argentine_suspension_de_mesures_favorables_a_Barrick_Gold_dans_une_zone_glaciaire18030720122129.asp


© Nofear / Hardinvestor / On appelle esprit libre celui qui pense autrement qu'on ne s'y attend de sa part en raison de son origine, de son milieu, de son état et de sa fonction, ou en raison des opinions régnantes de son temps. Il est l'exception, les esprits asservis sont la règle. Ce que ceux-ci lui reprochent, c'est que ses libres principes, ou bien ont leur source dans le désir de surprendre ou bien permettent de conclure à des actes libres, c'est-à-dire de ceux qui sont inconciliables avec la morale asservie." (Friedrich NIETZSCHE, Humain, trop humain) mon tweet perso: @ghostbikerman

   nofear

  Chef cuistot
 Chef cuistot

  avatar

  Inscription :   03/10/2009
  Messages :   2397

Revenir en haut Aller en bas
Message Projet Pascua Lama en grande difficulté
par marie Jeu 25 Avr 2013 - 22:31

Projet Pascua Lama en grande difficulté


depuis le temps qu'on en parle ... la compagnie annonce officiellement aujourd"hui, qu'elle pourrait tout simplement suspendre le projet, et ce, de façon permanente !

Inutile de dire que c'est une catastrophe pour Barrick et ses actionnaires, mais extrémement bull pour l'or et l'argent !

http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=187605&sn=Detail



© Marie Forum Argent Or. reproduction interdite : pas de copier-coller. Faites un lien vers ce post. Suivez Hardinvestor sur Twitter et sur Facebook

   marie

  Skipper
 Skipper

  avatar

  Inscription :   05/02/2005
  Messages :   19731

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par du-puel Ven 26 Avr 2013 - 9:59

marie a écrit:
Projet Pascua Lama en grande difficulté


depuis le temps qu'on en parle ... la compagnie annonce officiellement aujourd"hui, qu'elle pourrait tout simplement suspendre le projet, et ce, de façon permanente !

Inutile de dire que c'est une catastrophe pour Barrick et ses actionnaires, mais extrémement bull pour l'or et l'argent !

http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=187605&sn=Detail

c'était à priori déjà dans les tuyaux --hooops : dans les cours d'ABX. Belle trajectoire par ailleurs !



© Armand Du-Puel /Hardinvestor
reproduction interdite : pas de copier / coller : utilisez un lien vers cet original.

   du-puel

  Chef table à cartes
 Chef table à cartes

  avatar

  Inscription :   18/08/2005
  Messages :   3543

Revenir en haut Aller en bas
MessagePascua Lama /5.5 milliards de $ de dépréciation
par marie Sam 6 Juil 2013 - 14:14

Pascua Lama /5.5 milliards de $ de dépréciation et 10 $ milliards avec l'acquisition d'équinox en 2011 ,
et cerise sur le gâteau, si Barrick devait se mettre en faillite , ce serait à l'exclusion de Pascua Lama ( en raison de la réglementation chilienne à cet égard)
l'action est d'ailleurs matraquée  à juste titre, cette fois, atteignant un plus bas pas vu depuis 2002 à 13.62$
**************
Citation :

Barrick Gold remains in a whole lot of trouble. More from Brent Johnson, whom CP and I met in Vancouver in June…

Greetings to all,
This email speaks volumes as to what is really happening behind the scenes in regard to Barrick. Now the law firms are mentioning "criminal" in their communications. In our directors opinion, it is a short rope for Barrick at this point in time. They have lied to their shareholders, the Stock Exchanges, their bankers, the various Securities Commissions and the investing public. I am afraid to predict, Barrick just might be forced to declare Chapter 11 in the USA or bankruptcy.

Corporate assets in Chile are not allowed to be moved into a bankruptcy in New York or Toronto, as an example. Remember, because of the brilliant work or Jorge, Juan Guillermo and Barbara Salinas, Mountainstar Gold is the first legal creditor in Chile against Barrick. Believe me; we will take advantage of that!!!!!!!

Our opinion is that Barrick cannot turn the tide in their favour any longer!
Cheers,
Brent


Barrick's Pascua-Lama Should Be Shelved: Pollitt & Co.



By Alex Létourneau of Kitco News
Thursday July 4, 2013 12:00 PM

(Kitco News) - Barrick Gold Corp. (TSX, NYSE: ABX) disclosed Friday that it would take a $5.5 billion impairment charge on its Pascua-Lama project, located along the border of Chile and Argentina, fueling talks of the need to shelve the project.

The world’s leading gold producer will take the impairment hit with production at Pascua-Lama now slated for mid-2016.

What followed was a TD Securities report Tuesday stating that Pascua-Lama, coupled with the writedown risk of Barrick’s 2011 Equinox acquisition and its high-cost Buzwagi mine, could bring a total writedown of $10 billion.

Doug Pollitt of Pollitt & Co., an employee-owned brokerage firm, said weeks before the impairment charge that the "world class decision" would be to shelve Pascua-Lama.

"Pascua-Lama should have been towed out to sea and sunk a long time ago, proverbially speaking," Pollitt said in a June 10 report. "Rarely has there been a project that, distilled to an essence, gives off the scent of an industry so drunk on cheap capital.

"This is all quite harsh, but that’s the mood these days," he added.

Pollitt said that the project was ambitious from the start, citing extreme location as it’s straddled across an international border, extreme altitude, vast in scope with regulatory issues.

"And the technical aspects remain challenging," Pollitt said. "A 43-101 states ‘the (project’s) ore is extremely complex and highly variable.’ Moreover, the rock is so acidic that dry grinding was once considered and there have been reports of a visitor’s coveralls being partially dissolved after a walk-through tour."


There is also the governmental aspect, with the latest seeing the Chilean environmental watchdog suspending the project due to environmental concerns and slapping a multimillion dollar fine on the gold senior.

Pascua-Lama’s potential is well-known with nearly 18 million ounces of proven and probable gold reserves and 676 million ounces of silver contained within the gold reserves. It has an expected mine life of 25 years and is expected to produce an average of 800,000-850,000 ounces of gold and 35 million ounces of silver in its first full five years of operation at all-in sustaining and total cash costs of $50-$200 per ounce and negative $150 to $0 per ounce, respectively.

However, Pollitt doesn’t see the upside.

"Given the grade of the deposit, given the technical challenges of the project, given the various landmines between here and first pour, and comparing these characteristics to Barrick’s existing ops, all with proven operational characteristics in friendlier jurisdictions, it becomes clear that, in relation to the sweet part of its operational portfolio, Pascua at current prices is simply not an attractive project," Pollitt summed up.

For the latest mining news, updates and commentary, or to contact me regarding a story or feedback, please follow my Twitter account @alex_letourneau

www.lemetropolecafe.com



© Marie Forum Argent Or. reproduction interdite : pas de copier-coller. Faites un lien vers ce post. Suivez Hardinvestor sur Twitter et sur Facebook

   marie

  Skipper
 Skipper

  avatar

  Inscription :   05/02/2005
  Messages :   19731

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par g.sandro Sam 6 Juil 2013 - 15:18

On ne pleurera pas sur la dépouille de ces traîtres. aaarf  r.ire  fffuck  Thumb down



Silver is king, Go Gold !
© G.Sandro Forum Argent Or, pas de copier collé, faire un lien vers ce post
Suivez Hardinvestor sur Twitter et sur Facebook


   g.sandro

  Captain
 Captain

  avatar

  Inscription :   04/02/2005
  Messages :   12334

Revenir en haut Aller en bas
MessageRe: ABX /Barrick Gold: une bombe à retardement
par du-puel Dim 7 Juil 2013 - 9:51

g.sandro a écrit:
On ne pleurera pas sur la dépouille de ces traîtres. aaarf  r.ire  fffuck  Thumb down

ils ne sont pas encore morts ! la médecine moderne des instituts tels JPM ou FED permet des miracles.



© Armand Du-Puel /Hardinvestor
reproduction interdite : pas de copier / coller : utilisez un lien vers cet original.

   du-puel

  Chef table à cartes
 Chef table à cartes

  avatar

  Inscription :   18/08/2005
  Messages :   3543

Revenir en haut Aller en bas
ABX /Barrick Gold: une bombe à retardement
Voir le sujet précédent Voir le sujet suivant Revenir en haut


Page 2 sur 3Aller à la page : Précédent  1, 2, 3  Suivant
Permission de ce forum:Vous ne pouvez pas répondre aux sujets dans ce forum
Hardinvestor :: Argent - Or - Monnaie - Géopolitique / Forums publics :: Minières or et argent, pétrolières-
Sauter vers:




cours de l’or en dollar   cours de l’argent en dollar   cours du Hui   cours de l’or en euro   cours de l’argent en euro   ratio or argent