Dutch Central Bank Sale Announcement Imminent? Message Board

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Politics : Dutch Central Bank Sale Announcement Imminent?

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To: Mr Metals who wrote (1437)	10/8/1998 7:49:00 AM
From: ForYourEyesOnly	Read Replies (1) of 81177

Yes, Mr. Metals. That is quite a discount, wouldn't you say?? About 1/8 of NAV (some assets have been written down since the write-up by Blanchard, but still way off the NAV). I'm not sure if this is a complete plus, but FWIW the production facilities were financed by N.M. Rothschild and Sons Limited. Plan to ramp production to 250,000 ounces per year at GFGL (17.5% owned). Pls let me know what you think. THC From the 2Q 98 financials: "During the second quarter, GFGL closed the US$75 million loan facility and much of the loan has been drawn down. The loan, arranged by N.M. Rothschild and Sons Limited, was syndicated among lenders including banks in North America. Following GFGL board approval in May of the Phase II heap leach expansion, foundations are now being completed for additional crushing and agglomeration equipment. The expansion will increase the mining rate to 600,000 tonnes of ore per month and gold production to in excess of 250,000 ounces annually by the third quarter of 1999."

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