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Gold/Mining/Energy : Gold Price Monitor

GDXJ 108.29

-0.9%

Dec 1 4:00 PM EST

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To: sea_urchin who wrote (31421)	4/10/1999 5:26:00 AM
From: John Hunt	Read Replies (2) of 116790

Anglogold To Buy Gold Forward << JOHANNESBURG (Dow Jones)--South Africa's Anglogold Ltd. (AU), the world's largest gold producer, has negotiated a $150 million two-year gold loan with Germany's resdner Bank AG (G.DRS). This will be used to part-fund a $492 million acquisition of Minorco SA's (MNRCY) North and South American gold mines, concluded March 31, the company said in a statement. It said that simultaneous with the cash loan it had entered into a contract to buy gold forward, in order to "eliminate any exposure to a rising gold price and neutralizing any effect on the physical market." >> gold-eagle.com Hi Searle, I picked that up on the Gold Eagle Forum (Hugo - Apr 10 3:55) ... Sounds real good. Do you have a reason for turning off 'private messages' on your SI profile options? ... Wanted to send you one yesterday, but couldn't ... Just curious. John PS - I was sent on a visit to South Africa many moons ago to try, with a local distributor, to sell computerized mobile data terminals to the government for vehicles used by their security forces ... It wouldn't work because of technical limitations of the locally manufactured SA radios, but it was an interesting experience for me.

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