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: POLARBEAR who wrote (266)	10/6/1999 9:55:00 PM
From: baystock	Read Replies (2) of 851

Hi Polarbear, Yes I did mean to say Harmony was unhedged. I sold my Harmony at $6 to buy more DROOY at $2, and I am wondering if that was a mistake. I still like Harmony of course but I thought DROOY was more undervalued. Here is a post from gold eagle on hedges. As you can see DROOY increased their hedging in quarter ending in June. Hopefully they didn't increase it any more in the September quarter. But the price action may be saying that hope is misplaced: Forwards positions (Oz1) Oct 06, 16:47 The last detailed report I saw on the hedging positions of companies throughout the world with their changes in brackets during the June Qtr was by Bell Securities in Australia, viz: (just the forwards and puts are shown) Sth Africa Anglogold : 13.613moz at US$424/oz (734koz) Avgold : 1602koz at $367 (169) Gold Fields : 1804koz at $326 (71) Durban Deep : 1100koz at $318 (621) Western Areas : 854koz at $302 (223) Randgold : 490koz at $299 (200) Randfontein : 2277koz at US$282/oz (1062koz) There's Nth America, and Australia too....will try and supply later...gotta go to work

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