Barrick's tremendous losses on its Pascua Lama hedging programme are costs that the suppressors of gold and silver have to pay for one of the tools they use to keep Gold (and silver) down. One day we will find out what other costs there are, when JP Morgan has to open its derivatives book and/or has to write down its losses.

UPDATE 1-Barrick Gold posts net loss on $5.7 billion charge

* Q3 net loss $6.07 vs year-earlier profit of $0.29

* Excluding items, Q3 profit $0.54 vs $0.46 year ago (In U.S. dollars, unless noted)

TORONTO, Oct 29 (Reuters) - Barrick Gold Corp (ABX.TO) reported a third-quarter net loss on Thursday, as it absorbed a $5.7 billion charge to unwind gold hedges, but the Canadian miner said core earnings rose, helped by higher gold prices.

The company, the world's largest gold producer, posted a loss of $5.4 billion, or $6.07 a share, compared with a year-earlier profit of $254 million, or 29 cents a share.

Stripping out the previously announced charge to unwind the hedges, as well as some smaller one-time items, profit rose to 54 cents a share from 46 cents.

Revenue rose 11.6 percent to $2.1 billion

http://www.reuters.com/article/marketsNews/idAFN2950772720091029?rpc=44