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Gold/Mining/Energy : DROOY Durban Deep- Best S. African Mine
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To: Texas77 who wrote (794)12/14/2004 12:33:04 AM
From: ubetcha  Read Replies (2) of 851
 
Dave,

Since no one else has answered, I will respond.

Drooy has become a completely "hedge free" gold Company. They became this way last year. It hurt them for a while, but has set them up for a major move in gold, and in the Rand becoming weaker. Since they are a high cost producer, any move in gold will help them.

The African gubment (who has hurt all Gold Miners in Africa) in their wisdom increased interest rates to make the Rand strong, but I think they are beginning to see the error of their ways. Not making a recommendation, but I think that Drooy is in a position to make a major move upwards. Do not think there is to much of a downside. They have diversified into Australia in order to make up for the weaker rand.
Good luck in whatever decision you make.

Terry
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