Don't count on Barrick confirming this right away as they're hiding 17 years of Pascua title fraud in Chile. My guess is the media will get the info out of Chile soon enough. Can't help but think that the only people Barrick reported Pascua problems to is their friends and insiders.
I'd almost agree with that statement, but...
as a long term owner of ABX (since 1998 - 2000 shrs, 1000 of which I sold in Jan),
I have watched this turd seemly defy huge run ups in AU with itsy bitsy up response.
But let AU so much as hiccup and ABX drops like rock. Creeps up, drops like a rock giving up all gains. And ABX management doesn't surrender much profit to the owners, the shareholders.
The ABX officers collect millions and shareholders just cry & cry.
Lets save that comment. Bold statement considering ABX was buliding Pascua in 1997 for $500 million with production in the year 2000. Interesting to note Barrick has had title problems for Pascua since 1996.
ABX is bankrupt as soon as the above is revealed to the masses hence the selling pressure you are seeing...The 13 billion in debt along with the 4 billion they have sold forward renders this company Bankrupt.........