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To: Lucretius who wrote (68413)	10/13/1999 6:56:00 AM
From: Jack of All Trades	Read Replies (1) \| Respond to of 86076

Yen higher this am 107.5ish. ?? is will they still sell off more equities today?

To: Lucretius who wrote (68413)	10/13/1999 10:59:00 AM
From: John Pitera	Read Replies (1) \| Respond to of 86076

GOLD: Bid talk rife among miners By Shawn Donnan in Sydney ft.com Takeover speculation is rife in the gold sector following AngloGold's friendly bid for Australian producer Acacia Resources. But at least one Australian miner, Sons of Gwalia, yesterday said it had not received any offers and continued to look toward exploration for expansion. Analysts said the AngloGold bid raised the possibility of other Australian producers becoming targets, including Delta Gold, whose own bid for Acacia was topped by AngloGold. Hugh Leggatt, a Placer Dome spokesman, would not rule out an acquisition of Delta, but said it was not a priority. "Our hands are full and as a general rule we are more interested in acquiring good assets," he said. Placer Dome already has a 60 per cent share in the Granny Smith mine, Australia's lowest-cost gold mine, while Delta owns the other 40 per cent. Meanwhile, Fijian gold producer Emperor Mines denied reports that higher gold prices were causing it problems with its hedging position. The value of its hedge book had decreased but its ability to deliver into its hedge contracts had been enhanced, said Colin Patterson, chief executive. Bobby Godsell, AngloGold's chief executive, said there had been a misunderstanding by investors of the impact of the recent surge in bullion prices. The conventional wisdom had been to sell shares in hedged producers and buy unhedged companies. Instead, Mr Godsell said, it should be to sell shares in badly hedged miners rather than hedged companies as a whole. Additional reporting by Gwen Robinson in Sydney and Edward Alden in Toronto ------------------------- Luc...BTW....the Gold Miner that HM bought in 1997 in AUS is also a low cost producer. JP