Tomorrow ABX will report what could be the worst possible quarterly results in the company's history. Because of the writedowns, the loss could be as much as $10 per share, wiping out 2/3 of the company's equity.
I suspect the $8B in write down is capped by the debt covenant, otherwise should be much higher.
I think abx is going to have horrendous earnings. But then again, every single of the miners had a terrible quarter. Gold has to move higher, they can't survive at this price for much longer.
the worse the report the better! that is how wall street works.