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: RFH who wrote (258)	10/1/1999 2:20:00 PM
From: baystock	Read Replies (1) of 851

The squeeze is on. By the time the shorts capitulate some time next year, POG will be over $350: smh.com.au At $350 POG, DROOY will be a $10 stock...its a no brainer. With 100 million shares outstanding (including the recently announced 15 million) and cost of production of $265/oz and 1.3 million oz/yr in annual production, the pre-tax cash flow works out to $1.10/share or 73 cents per share after tax. With a PE of 12 we get a $8.75 share price. Add in growth in production from 1.3 to over 1.5 million oz because closed shafts can be reopened thanks to the higher POG and that gets us over $10 a share by next summer! p.s. as always, do your own due diligence.

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