Barrick Gold Corp (USA) (ABX)
A gold mining company in the world in terms of production, reserves and market capitalization.
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Gold, Silver, n Copper - Did I mention GOLD?
Gold
When it comes to gold I really only have two things to say:
(1) Barrick Gold (ABX)
(2) Kinross Gold (KGC)
Why? ... glad you asked!
Gold, Silver, and Copper ... as in Cerro Casale, Chile WOW!!!!
Kinross acquired its 49% interest in the Cerro Casale gold-copper deposit in northern Chile on February 28, 2007, through its acquisition of Bema Gold. Barrick Gold held the remaining 51% interest. As a result of a new shareholders agreement entered into with Barrick and an associated reorganization of the corporate ownership in September 2009, each of Kinross and Barrick now have a 50% interest.
Discovered in 1996, Cerro Casale is located 145 kilometres southeast of Copiapó, and is directly south of Kinross' Maricunga mine.
The Cerro Casale deposit is a large gold and copper orebody with reserves (100%) of approximately 21 million ounces of gold and 5 billion pounds of copper. It is reputedly one of the largest undeveloped gold/copper deposits in the world.
21 mil oz x $1192 = $25,032,000,000 ($25 Billion) in the ground ... WOW !!!!
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Valuation.
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Telechart Pick
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Being one of the best gold miners in the world Barrick will go up as gold goes up.
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Profit takers came out today, 10/15/09. Gold should continue its rise over the next 6 to 12 months according to many international metals experts. ABX should only rise with the metal they mine.
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Long-term investment on rising gold prices with stable energy prices and labor costs.
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They have bought back their hedges, they should take off eventually.
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2/30 in Gold -(63.7@B+/A+)
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WILL ONLY GO UP
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BECAUSE THEY HAVE A LOT OF GOLD!
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Goog growth.
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Another miner - will explode when inflation hits.
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People are still scared, and running to gold.
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Bail out money and current deficit situation in US as well fed banks diversifying outside of treasuries are fundamental towards inflation going higher. Not a matter of if but when. Weak US dollar and rising treasury yield also will help toward this. These are all factors in favor of gold prices moving higher. For every 1% gold price moving higher gold equities tend to move 3-7% higher due to their leverage and inventories. Gold could push 1500/oz over the next 12-18months. Again drivers of gold proces are inflationary time and weak US dollar which therefore makes gold a hedge toward these factors including a store of wealth.
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inflation will come when economy picks up
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Gold is gold right now. And optimism on gold price will drive this stock up.

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