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Gold/Mining/Energy : DROOY Durban Deep- Best S. African Mine
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To: POLARBEAR who wrote (283)10/10/1999 1:51:00 PM
From: baystock  Read Replies (1) of 851
 
Hi Polarbear,

I recently gave my projections for DROOY. The impact of their hedgebook on earnings has not been taken into account in this:
Message 11421449

If this comes to pass then their workers will become more agressive when it comes time to agree on their next contract. But I think that is a couple of years away since they just agreed on a new contract this year. Also the Rand will appreciate if POG goes to $350 and this will hurt earnings somewhat since their costs are in Rand.

-Ram
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