Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: nspolar who wrote (21158)	11/1/2002 7:47:48 PM
From: Patricia	Read Replies (1) of 36161

Drooy news which might be affecting stock price. DROOY (NASDAQ SC) DURBAN ROODEPOORT DEEP LTD. Is DRD's Argonaut Fantastic Odyssey? MONDAY , OCTOBER 28, 2002 03:12 PM Oct 27, 2002 (Miningweb/All Africa Global Media via COMTEX) -- JOHANNESBURG ? The original Argonauts were shiphands of the vessel 'Argo' captained by Jason, the mythical hero of Greek writer Apollonius whose story focuses on the quest to fetch the golden fleece. Back in modern day South Africa, analysts are questioning if Durban Roodepoort Deep's [NASDAQ:DROOY] Argonaut project is just as fantastical. Certainly, DRD's plans to spend billions of rands developing the world's deepest gold mine has been dismissed by analysts as unrealistic ? a criticism chief executive Mark Wellesley-Wood says lacks imagination. He believes the gold price and the rand's continued depreciation against the dollar will underpin the viability of the project. DRD said last this week that it hoped to exploit the Argonaut resource which is thought to contain 111 million ounces of gold at a depth of between 3,000 to 5,000 metres, deeper than anywhere else in the world. Plans to raise cash to help finance a R500 million exploration programme have been discussed by the company. The total project would cost R7 billion...... rest of the story at the below link knobias.com

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