South African Gold Companies Message Board

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Gold/Mining/Energy : South African Gold Companies

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To: Christopher White who wrote (11)	10/10/1997 11:21:00 PM
From: Wade	of 17

Hi Christopher, You are welcome. Goldsheet helped me a lot to study this sector. I hope you find it useful too. Sorry for not getting back to this sooner. The low valuation of SA golds are due to plitical reason and high cost of deep mining operation. Most of the mines are very old and they have to dig very deep to take the ore. Some day those once richest mine will be too difficult to operate, they will have to abandom them if the POG keeps on falling. However, higher POG will encourage them to keep on opearting. They are paying very good dividends to their share holders which is not seen in N.A. gold mining companies. I do not know how to compare their mining technology with the N.A. counter part. But, they are able to operate profitably even under all of the cost and strike problems. But, many N.A. mines lose money. The announced mergers will allow them to use their cash power to explore new mines. They will have much better profitability than their smaller entities. I am bullish on those golds. I will keep on holding my KLOFY for conversion. I will consider to add more shares. Good luck. Sincerely, Wade

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