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 (519)	5/6/2000 9:25:00 PM
From: baystock	Read Replies (1) of 851

Kebble steps down from repositioned DRD mny.co.za <<But the company has also failed to post sustainable profits. According to one analyst, DRD has only made money in three quarters out of the last fourteen. Incoming chairman Mark Wellesley-Wood, however, believes DRD can make R200 million free cash flow over the next five years from flagship mines Hartebeestfontein and Blyvooruitzicht. In addition, all cash-draining operations will be removed from the group. DRD has already mothballed underground production from the Durban Roodepoort Deep and West Wits mines, and has sold about 600 000 ounces or 20 per cent of its total hedge book in an effort to enforce a strategy of more selective hedging.>> R200 million free cash flow over the next five years is not very impressive at all. It isn't anywhere near what I was projecting in my previous post, which then must be flawed. I am not sure where I went wrong.

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