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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: Gord Bolton who wrote (274)11/30/1998 7:39:00 AM
From: sea_urchin  Read Replies (1) of 48092
 
Thanks Gord : The announcement, but not the details, was in our local newspaper day before yesterday and I was thinking about posting it.

The share price of WAreas on the JSE hasn't moved much since then so I can't say what the market thinks about the news. So far, looks like not too much. I would have thought it was a coup for a SAf company to have made a substantial link to Placer Dome.

South Deep is a very rich proposition controlled, as you may know, by JCI gold which, in turn, is controlled by the ubiquitous Kebble Brothers of Rangy and DRD fame. So that cash injection from PDG will come in very handy for their future plans, I'm sure. Unless, it's needed to complete the shafts.

There may be a problem about SDeep and that is much of its future production (? for 10 years) has already been sold forward. The deal also involved many call and put options and options on the Rand. This happened in 1995 when the gold price was a lot higher and, at the time, people remarked that the amount of gold involved was equivalent to the annual production of Australia!! (If my memory serves me, it could have been 70-80 tonnes) So, potential investors should do some DD in that regard.
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