SOUTH AFRICAN MINING Message Board

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Gold/Mining/Energy : SOUTH AFRICAN MINING

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To: Ptaskmaster who wrote (461)	8/12/1999 2:46:00 PM
From: sea_urchin	of 472

Ptask : Thanks. I learned about Anglo American many years ago and the dictum still holds true. Actually, in Rand terms, the share has doubled since I mentioned it a few months ago. The platinums have also had a good run since we spoke about them. On my analysis GOLD is still cheap. Valuing it as if it was still Dries or Kloof the share is still a buy. Although, I must say, it has gone up a lot in the last week. It's impossible to value Anglogold in terms of its component Vaal Reefs, W. Deep Level or Freegold etc, because the company has been been "reworked" and many high cost shafts etc were disposed of. Also it now owns South and North American mines. Actually there are only a handful of SAf mines left to invest in so the decision is really quite straightforward. Anglogold and Goldfields are the two best high grade propositions. In fact, there are only two. Harmony is probably the best low grade proposition. And if you want to gamble try one of Mr Kebble's horses --- DRD, Randgold, Western Areas, Randfontein --- but you didn't hear it from me! There's also Avgold.

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