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CBSMarketWatch does video interview of GoldMoney founder James Turk

Section: Daily Dispatches

9:27p ET Thursday, July 28, 2005

Dear Friend of GATA and Gold:

From Barrick Gold's second quarter report, issued
today:

"Production and costs: In second quarter 2005,
Barrick produced 1.2 million ounces of gold and sold
1.1 million ounces at a total cash cost of $243 per
ounce, compared to 1.3 million ounces produced
and 1.2 million ounces sold at a total cash cost of
$209 per ounce for the prior-year quarter."

While Barrick is getting $243 per ounce for its
gold, spot gold today closed above $427.

"Gold hedge position update: Barrick reduced its
gold hedge commitments by a further 200,000
ounces in the quarter, bringing the Corporate
Gold Sales Contracts position down to 6.6 million
committed ounces, or 9 percent of year-end
reserves excluding Pascua-Lama."

That is, at the current rate Barrick will be able
to close its hedge book in ... another eight years.

You can find Barrick's second quarter report here:

http://biz.yahoo.com/bw/050728/285994.html?.v=1

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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----------------------------------------------------

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