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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Paxb2u who wrote (38413)	8/5/1999 4:46:00 PM
From: long-gone	Respond to of 116764

FOCUS-Gold Fields eps falls, abandons global drive 10:46 a.m. Aug 05, 1999 Eastern By Darren Schuettler JOHANNESBURG, Aug 5 (Reuters) - South Africa's Gold Fields (GFIJ.J) reported weaker fourth quarter earnings and massive writedowns on Thursday as it abandoned a global expansion drive to ride out the storm in world bullion markets. Gold Fields announced several belt-tightening measures in the face of record low prices and said it was planning for a $230 an ounce market, over $25 below Thursday's spot gold price. ''By hunkering down we will not only position ourselves to best navigate the stormy waters of this low point in the gold cycle, but also to take aggressive advantage of any recovery that may follow,'' Gold Fields Chairman and Chief Executive Officer Chris Thompson told a results briefing. (cont) infoseek.go.com

To: Paxb2u who wrote (38413)	8/5/1999 4:50:00 PM
From: long-gone	Respond to of 116764

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