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Gold/Mining/Energy : South African Gold Companies
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To: Wade who wrote (15)10/11/1997 9:23:00 AM
From: Christopher White   of 17
 
Wade,

Thank you for clearing up my misunderstanding. So Gencor trumped NAIL. I expect even more consolidation - on 1 September Rustenburg Platinum merged with Anglo American Platinium and two other platinum producers...now this deal. These mergers are great because they will reduce costs by eliminating duplicate levels of management and facilities.

From a technical perspective, many of these African gold producers have just turned the corner and started (within the last 2 weeks) a bullish trend. After having looked at the equivolume and candlestick charts of last week's action, ANGLY, ASL, and IMPAY look good. I like ASL best because it is a very low cost gold producer ($225/oz), has excellent labor relations, and the shares are more liquid than either IMPAYor ANGLY.

Christopher
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