DROOY Durban Deep- Best S. African Mine Message Board

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Gold/Mining/Energy : DROOY Durban Deep- Best S. African Mine

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To: John Hunt who wrote (186)	7/12/1999 9:33:00 PM
From: John Hunt	Read Replies (1) of 851

DRD BIDS FOR BALANCE OF HARGRAVES TO ADVANCE AUSTRALIAN GROWTH STRATEGY JOHANNESBURG, 12 JULY 1999 - << DURBAN ROODEPOORT DEEP TODAY ANNOUNCED A BID FOR THE 81% OF AUSTRALIAN GOLD MINING COMPANY HARGRAVES IT DOES NOT ALREADY HOLD, SAYING THIS WOULD FACILITATE ITS STRATEGY OF EXPANSION INTO THE AUSTRALASIAN REGION. THE GROUP IS OFFERING ONE DRD SHARE AND 70 AUSTRALIAN CENTS IN CASH FOR EVERY SEVEN HARGRAVES SHARES, A PREMIUM OF 41% OVER THE WEIGHTED AVERAGE PRICE OF HARGRAVES SHARES OVER THE PAST 30 TRADING DAYS, BASED ON DRD'S WEIGHTED AVERAGE NASDAQ PRICE OVER THAT PERIOD. OTHER THAN REQUIRING DRD SHAREHOLDER APPROVAL FOR THE ISSUE OF NEW SHARES, THE OFFER IS UNCONDITIONAL. HARGRAVES, WHICH IS LISTED ON THE AUSTRALIAN STOCK EXCHANGE, PRODUCED OVER 70 000 OUNCES OF GOLD FROM ITS BROWNS CREEK MINE IN NEW SOUTH WALES IN 1997/98 ... more ... >> edata.co.za Please excuse the caps as I didn't do it ... That is the way it is on the referenced link.

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