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Gold/Mining/Energy : DROOY Durban Deep- Best S. African Mine
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To: Secret_Agent_Man who wrote (674)4/4/2002 11:42:22 PM
From: Secret_Agent_Man   of 851
 
From The Chart Room
Mining For Profits
Ben Berentson, 04.04.02, 12:00 PM ET

NEW YORK - Gold is hot. It's up around 30% for
the year, in contrast to the S&P 500, which is down
3.1% on the year. According to Pamela and Mary
Anne Aden, who produce the Aden Forecast out of
Costa Rica, reasons for this surge include the
instability in the Middle East, the appearance of
budget deficits, a weaker dollar and anticipation of
future inflation.

Of the gold stocks they follow, the Adens see a lot
of potential in Durban Roodepoort Deep (nasdaq:
DROOY - news - people ), a South African gold
company that is the 13th-largest producer of gold in
the world. It has operations in both South Africa and
in Paupua New Guinea. It is currently trading at
around $3.30.

"Durban has been one of the best-performing gold
stocks," says Mary Anne Aden. "It's up more than
135% for the year and has shown great relative
strength against both the Gold/Silver Index (XAU)
and against the major gold stocks like Harmony
Gold Mining (nasdaq: HGMCY - news - people )
and Newmont Mining (nyse: NEM - news - people
)." The stock is trading well above both its 200-day
(blue line) and 50-day (green line) moving averages.
"It's been so strong that it might dip a bit." With the
price of gold heading up and toward $325 per ounce
from its current $303 per ounce, the sisters think
Durban could easily rise to a price of over $5 per
share.
forbes.com
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