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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Perspective who wrote (23468)	10/2/2000 10:17:12 AM
From: LLCF	of 436258

NEWSFLASH: Goldman takes time out to do this: Lowering our 3Q2000 earnings estimate for Homestake 07:25am EDT 2-Oct-00 Goldman Sachs (New York Investment Research) HM ACTION Goldman, Sachs & Co. Investment Research Lowering our 3Q2000 earnings estimate for Homestake * * FULL ACTION in the A.M. - U.S. * * New York Investment Research (New York) - - Investment Research Daniel McConvey (New York) 1 212-902-2360 - Investment Research Jim Copland (New York) 1 212-357-3519 - Investment Research ==================== NOTE 6:55 AM October 02, 2000 ==================== 7. Homestake Mining Company {HM} $5.19 Lowering our 3Q2000 earnings estimate for Homestake Daniel McConvey (New York) 1 212 902-2360 Jim Copland (New York) 1 212 357-3519 EPS (FY Dec): 2000E US$-0.07, 2001E US$0.17 - Market Performer * We are lowering our EPS estimate for 3Q2000 to $0.00 from $0.03 per share, to reflect more conservative corporate overhead and exploration expense assumptions. We are increasing our estimates for G&A expense by $2mn ($0.01 per share), to $11mn, and for exploration expense by $4mn ($0.02 per share) to $10mn. The adjustments bring our expense estimates into line with the first 2 quarters of 2000. Our production estimate for the quarter remains unchanged at 612k oz at cash costs of $186 per ounce (on a gold equivalent basis). Maintain market performer rating. * We have made similar revisions to our estimate for 4Q2000. We are lowering our 4Q EPS estimate to $0.00 from $0.02. Accordingly, our full year EPS estimate is now a loss of $0.07 from a loss of $0.02. Important Disclosures (code definitions attached or available upon request) HM : CD LOL DAK

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