FT''s Riley suggests gold manipulation is probable


7p EST Friday, February 11, 2000

Dear Friend of GATA and Gold:

Here's a dispatch by GATA Chairman Bill Murphy,
correcting a statement he made yesterday about
Homestake Mining on the basis of an inaccurate
news service report. Thankfully, Homestake remains
among the good guys on the hedging issue, where it
always has been.

Please help us spread the accurate word about
Homestake by posting this as seems useful.

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

* * *

By Bill Murphy
Friday, February 11, 2000

It pleases me to tell you that a wire service took out
of context the recent comments by Jack Thomson,
chairman of Homestake Mining.

One of GATA's most ardent supporters and a significant
Homestake shareholder spoke to the chairman today and
dicovered that he was so upset about the wire service

The GATA supporter told me that Thompson is one stand-
up guy, could not have been nicer, and is very bullish
about the price prospects for gold.

Some highlites of what Thompson had to say:

-- The day of reckoning for the shorts is nearing.

-- A tremendous amount of selling or liquidity has been
absorbed by the gold market buyers. That liquidity is
going to dry up and buying gold in size will be much
more difficult without having to pay up for it.

-- Homestake is lightly hedged and will stay that way.
The amount of hedging that Homestake does amounts to
about the mere rounding error of its competition.

This is bood news both for the gold market and for all
you Homestake shareholders.