Hi rodeo .....Off-Topic ???? :-)
Something momentous has occurred for the
gold market and gold industry. Finally, someone has
had the audacity to speak out against the continuous,
outrageous and self serving negative barrage of gold
market commentary by the New York bullion dealers.
For good reasons, the gold mining companies have been
petrified of the bullion dealers because their credit
lines are a life blood of their existence. Good
relationships with your bankers is just good business.
Unfortunately, the gold miner's banker has been "Hannibal
Lechter" and good ole Hannibal has coerced the gold
industry into a "Silence of the Lambs" type of existence.
Until now!
Here is the statement released to the press on Friday by
Chris Thompson, Chairman of Gold Fields Limited:
Company Press Release
SOURCE: Gold Fields Limited
Gold Fields Responds to Hedging Rumours
JOHANNESBURG, South Africa, April 16 /PRNewswire/ --
Chris Thompson, Chairman of Johannesburg-based South
African gold producer, Gold Fields Limited, today
announced that, other than regular sales of production,
the company has made no new forwards sales of gold
whatsoever during 1999.
Thompson said that the company had found it necessary
to make this statement in response to persistent
allegations that Gold Fields had recently sold large
amounts of gold forward.
''These rumours appear to be emanating from New York-based
bullion dealers'', said Thompson.
''The seeming explanation for these unfounded and
persistent rumours is a desire by the short end of the
market, or the dealers, to talk the gold price down. We
do not wish to be associated with these efforts,'' he said.
Gold Fields Limited is one of the world's largest,
low-cost producers of gold, with anticipated proven
reserves of 96 million ounces and annual production of
four million ounces during 1999/2000. It trades on the
Johannesburg and London Stock Exchanges under the symbol
''GFL'' and, currently in the US, on the OTC market
under the symbol ''GDFDY''.
SOURCE: Gold Fields Limited
A representative of Gold Fields in South Africa
recently signed up as a new trial member
in www.lemetropolecafe.com. I sent an email to Chris
Thompson yesterday congratulating him on his
"telling it like it is" and welcoming Gold Fields into
the Cafe. Chris Thompson has taken
a strong stand. I urge all Café members to support
this stand. Let him know what you think by sending
him an email at: Investors@goldfields.co.za and take a
close look at Gold Fields as an investment. One of
GATA's agendas is to urge shareholder buying support
for gold companies that are doing what they can to
fight for a higher gold price.
We invest in gold companies to make money. We will only
make money when the precious metals prices go higher.
What is the point of investing in a gold company if
the gold price cannot go up because the NY investment
house cabal has other agendas? I truly believe the
New York investment houses have perpetrated one of
the biggest financial scandals in the history of
our great country. They need to be put in their place.
Chris Thompson has been courageous. It is very
important that we resonate his message around the
internet so that other gold companies will speak up
too. All of us are starting to make a difference.
Now is the time to turn up the heat on "Hannibal Lechter".
More info on gata.org.....if ya want it :-) |
