Commodities - The Coming Bull Market Message Board

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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: craig crawford who wrote (633)	7/28/2001 7:25:29 AM
From: craig crawford	Read Replies (1) of 1643

Wednesday 25 July 2:43 PM Homestake HM.N eyes Australia purchases au.dailynews.yahoo.com KALGOORLIE, Australia, July 25 (Reuters) - Homestake Mining Co (ASX: HSM) said on Wednesday it was looking to make mine acquisitions in Australia. Homestake, which is merging with Barrick Gold Corp ABX.TO , already owns 50 percent of the Super Pit at Kalgoorlie, Australia's largest gold mine. "I would expect future acquisitions," Greg Lang, managing director of Homestake's Australia division told the Diggers and Dealers mine conference here. "We are not a company that stands still," he said. .......................................................................................................................... A weak Australian dollar over the last year or so has increased the appeal of Australian mining companies to international buyers, analysts have said. It also has propped up the Australian dollar-denominated gold price at a time when the U.S. dollar-based bullion is below the cost of production for some overseas miners. Gold now trades around A$530 an ounce, compared with A$390 an ounce in July 1999.

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