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Non-Tech : The Woodshed
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To: TH who wrote (42051)12/7/2006 7:24:29 PM
From: Sittin_on_my_yaya  Read Replies (1) of 60929
 
Heinz on Droopy

Email from Heinz on DROOY

there is absolutely no doubt imo that it's vastly undervalued and that the market overreacted. after all, what they have shut down is a loss making mine. they lose 11% of their production, but they will finally make a profit. and the mine isn't lost - it's on care and maintenance. should the gold price go a lot higher, they can reopen it very quickly.
imo Emperor's management (Emperor is the Australasian division of DRD) simply did what HAD to be done. the stock had been undervalued before, it is even more so now. the SA operations are humming along nicely with a respectable margin, and the Porgera pitwall repair is almost finished as well. shareholders could finally see some earnings materialize iow. also, the convertible bond has been redeemed, so this sword of Damocles that was hovering over DRD is also removed.
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