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

To: IngotWeTrust who wrote (48969)	2/13/2000 4:12:00 PM
From: lorne	Read Replies (2) \| Respond to of 116927

Peprah Resigns As Chairman Of Ashanti Goldfields Board Panafrican News Agency February 12, 2000 Accra, Ghana (PANA) - Ghana's minister of finance, Kwame Peprah has resigned with immediate effect as chairman of the Board of Directors of the troubled multi-national gold mining company, Ashanti Goldfields Company. In a letter to the board released to the press Saturday, Peprah said due to the pressures of implementing the challenging targets set out in the 2000 budget, he finds himself unable to effectively continue as chairman and director of the company. "I am therefore, tendering my resignation as chairman and member of the board, effective 11 February, 2000. The company had been in deep trouble since 1999 when its hedging policy backfired, causing creditors to move on it. But many crisis meetings in Accra and London failed to bail it out. Government owns 20 percent and a golden share in the company, which for many years was the largest foreign exchange earner for Ghana. Its share value has plunged from an offer price of 20 dollars in 1994 to 2.87 dollars 7 February, 2000. Four shareholders sued it and obtained a court ruling asking shareholders to replace the board of directors. africanews.org

To: IngotWeTrust who wrote (48969)	2/14/2000 12:03:00 AM
From: Eashoa' M'sheekha	Respond to of 116927

Thank You Too Much For That Clarification.<g> Yes indeed,I did neglect to add that this index has changed over time,along with the XAU.This is the link for a graph. wwwa.canada-stockwatch.com. What I was getting at was the fact that it does comprise of a wider selection of companies,as you well know, and can provide the interested investor with an alternative measure to compliment his/her analysis. But more importantly , I had noticed a number of folks doing historical analysis, apparently , without taking into account what you mention. I have also noticed that the TSE index does not always follow the XAU, such as what happened a couple of weeks ago when the XAU made a significant move on one day for no apparent reason other than possibly a technical bounce off the lows. Either that or someone had placed a pretty convincing rumour in the market.Hard to say.I?m not that well connected. Hee hee. OK. For what it?s worth to anyone, there ya be. Now?as we head into what may be a very interesting week,I see they have trotted out old faithful,Andy Smith, Gold bear extrordinare?.respected ta boot.. to say the only reason for the increase in interest lately was due to Ashanti and it?s problems. Well, I find that most amusing ,since there were a multitude of reasons for increased investor interest of late,but he has managed to circle the wagons around this one particular issue. Can we assume this to be another set-up from the Bullion Banks to move the market in the event they manage to slide though this one? Can I safely accuse Mr. Smith of offering the catalyst for another volatile move in Gold that only the Bullion Banks will have enough inside information to be in the know long before most others? Is this any way to run a gold market? <VBG> PS: Too bad ? our friends ? didn?t seize the opportunity to move the market last week,eh?It gets curiouser and curiouser.Well for some anyway. Your thoughts appreciated when you have an oportunity. I know yer busy where the REAL action is.The Yawhoos to do a split tomaro.Should be good for a few points.M&A to begin in earnest very soon me thinks. Regards, T553