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 (558)	11/29/2000 2:25:36 PM
From: baystock	Read Replies (1) of 851

And last year at the same New Orleans conference Durban was going around telling people that they would be generating so much cash by Q1 2000, they wouldn't know what to do with it. So I wouldn't put to much faith in what they say. Their poor results speak for themselves, resulting in severe dilution of shares outstanding. Their website implies more dilution to come: <<Steps have also been taken to strengthen the Balance Sheet. An agreement to settle the Western Areas advance and dispose of the associated share portfolio has been concluded. In addition, a separate agreement has been reached with Rothschild Australia to capitalise debt of A$ 12 million. The terms of repayment of the iProp loan note of R38 million (US$ 5.2 million) has also been finalised. These measures will reduce the interest charge to the Income Statement by R2.3 million (US$ 0.3 million) per month.>> Also in my opinion the DRD Australasia fisco happened under the Kebbles watch, and now they are back in control. They managed to conveniently excuse themselves from the scene long enough to finger the blame on to somebody else.

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