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Gold/Mining/Energy : DROOY Durban Deep- Best S. African Mine
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To: baystock who wrote (225)9/3/1999 8:55:00 PM
From: baystock  Read Replies (3) of 851
 
An interesting post from Kitco on the various SA gold mines. I think his comments on DROOY are on the mark:

Date: Fri Sep 03 1999 06:12
John Disney (comments ..) ID#24135:
Copyright © 1999 John Disney/Kitco Inc. All rights reserved
for longj .. you asked for comments on some mines .. they follow ..

AU
ASL
GOLD
DROOY...I know how you feel about this one
HGMCY

AU is a great company .. it looks like it will be one of the first
RSA mines to move ..

GOLD is also top quality stuff ..

these two mines are defensive in that they will make money even at
a gold price of 250 .. on a move to 300 they should double.

ASL .. Im not good with symbols .. what the hell is this ?

Hgmcy .. has outstanding potential because of its rapid growth in
resource base as well as its uncanny ability to reduce mining costs.
.. absolutely top management .. at present prices I would rank it
at the top with GOLD.

Drooy .. the main problem is its high cost .. with gold at 250
.. drooy is in a hole .. at 220 .. it will be one of the first
to go under .. there is downside risk on this mine .. it has
potential IF gold goes to say 325 or over .. then it will fly ..

.. in my opinion it has been over hyped in the USA .. the argument
that it is an option that wont expire is baloney .. with gold at
200 .. the option will expire fast as drooy couldnt stay above
water long with gold at that price .. Ive posted before that I
used to switch from Harmony to drooy when the drooy price fell to
half the harmony price .. BUT harmonys costs have continued dropping..
so I think one-third is a better number now ( if you are willing to
live with the possible downside )
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