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Gold/Mining/Energy : DROOY Durban Deep- Best S. African Mine
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To: POLARBEAR who wrote (197)7/14/1999 2:39:00 PM
From: baystock  Read Replies (1) of 851
 
Ok, I've fired off a question to them...I will keep you posted on their response. Personally, I don't understand this desire on Durban's part to dilute their shares at these depressed levels. It is my belief that the South African gold shares are more undervalued than the Australian gold shares, so I don't understand how DROOY shareholders will benefit by buying an Australian mining company at a 40% premium. I think DROOY needs to make the case on how this is going to benefit their shareholders. The market may have been anticipating this share dilution and this may explain the 50% drop in DROOY share price.

Ram
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