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Gold/Mining/Energy : DROOY Durban Deep- Best S. African Mine

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To: baystock who wrote (273)10/8/1999 3:22:00 AM
From: baystock  Read Replies (1) of 851
 
Check out their official table of hedging under quarterly reports: drd.co.za . Through 06-30-99...based on approx 700,000 oz annual production:

Year Ending--Type of Contract--Oz of Gold--Price per Oz
-------------------------------------------------------
06-30-2000---Forward Sales-----280,000--------$299.30
-------------Forward Sales------20,000--------$290.00
---------Accreting frwd sales--200,000--------$316.87
-------------Call Options-------79,200--------$303.10

06-30-2001---Forward Sales-----244,000--------$322.03
-------------Forward Sales------11,000--------$297.25
---------Accreting frwd sales--200,000--------$316.87
-------------Call Options------106,100--------$319.50

06-30-2002---Forward Sales------78,000--------$335.21
-------------Forward Sales-------7,000--------$304.65
---------Accreting frwd sales---50,000--------$316.87

06-30-2003---Forward Sales------48,000--------$410.00
and onwards--Forward Sales------12,000--------$316.20

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