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Gold/Mining/Energy : DROOY Durban Deep- Best S. African Mine -- Ignore unavailable to you. Want to Upgrade?

To: John Hunt who wrote (184)	7/8/1999 11:57:00 AM
From: LORD ERNIE	Respond to of 851

Go to jse.co.za and you will find all the news of today about the goldmining business.

To: John Hunt who wrote (184)	7/8/1999 2:54:00 PM
From: John Hunt	Read Replies (2) \| Respond to of 851

JOHANNESBURG, July 8 (Reuters) South African gold producer Durban Roodepoort Deep said on Thursday it was strong enough to weather the current storm in world gold markets. "DRD has put in place a flexible hedge programme which will protect our capital programmes and marginal production for the next year," DRD Chief Executive Mike Prinsloo said in a statement. The South African gold industry is under intense pressure as bullion prices slumped to levels not seen in two decades, threatening jobs and local economies. Another gold miner, ERPM <ERAJ.J>, filed for bankruptcy this week as Britain auctioned 25 tonnes of gold on Tuesday, sending prices to fresh 20-year lows of around $256 an ounce. Prinsloo said the jittery market was generating a great deal of speculation about the financial health of gold companies. "DRD felt it should reassure its shareholders and investors generally that it was capable of absorbing the current pressure and would proceed with the implementation of its strategies," Prinsloo said. I pulled this off the Gold Eagle forum.