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Gold/Mining/Energy : HARMONY GOLD MINING -- HGMCY
HMY 20.69+1.9%3:59 PM EST

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To: bambs who wrote (83)11/21/2001 5:02:51 PM
From: ild  Read Replies (1) of 271
 
Analysis on the Free State deal:

Wednesday, November 21, 2001 2:45 PM ET
From: heinz blasnik

it IS good. i think the market has been worrying on general concerns regarding the stocks of consolidators after takeovers are announced, and perhaps also over the price Harmony paid. but i expect these worries to be dispelled quickly, as the next few quarterly earnings reports should be VERY good. consolidating the Free State has been a long standing strategic goal of Harmony, and now it practically owns the entire province (Goldfields plans to sell its St. Helena and Oryx operations to Harmony too). the synergies are enormous, and will allow Harmony to squeeze out substantial profits from its Free State operations, regardless of the PoG.
regards,

hb
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