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To: Ken Benes who wrote (50118)	3/7/2000 12:45:00 PM
From: long-gone	Respond to of 116972

Ken, Looks like the miners(or at least one) is listening to you & holding gold off the market!:(holding it for a coming higher price?) Home - Yahoo! - Help -------------------------------------------------------------------------------- Click HERE for Refurbished Computer Products!! [ Business \| US Market \| By Industry \| IPO \| AP \| S&P \| International \| PRNews \| BizWire \| CCN ] -------------------------------------------------------------------------------- Related Quotes ABX ABX.TO HCX.TO HM 16 7/16 23.90 9.50 6 9/16 +5/16 +0.75 +0.50 +3/16 delayed 20 mins - disclaimer Tuesday March 7, 12:22 pm Eastern Time Company Press Release SOURCE: Homestake Mining Company Homestake Reports a Large Increase in Gold Inventory at Veladero SAN FRANCISCO, March 7 /PRNewswire/ -- Homestake Mining Company (NYSE: HM; Australia: HSM; Toronto: HCX) today reported that the amount of gold contained in mineralized inventory at its 60%-owned Veladero project in northwestern Argentina has reached 7.8 million ounces, a 39% increase over the amount assessed as of December 31, 1999. The amount of silver in mineralized inventory has increased by 47% and reached 147.4 million ounces. The increased amounts of gold and silver are based on the information compiled from a total of 87 additional holes drilled since June 1999 into the Amable and Filo Federico deposits as well as step-out holes drilled north and east of Amable and southeast of Filo Federico. Not included in the inventory, but of particular importance, is mineralization which has been found between the two deposits. This mineralization forms an apparent extension of the earlier discovered Amable Norte zone and its discovery has opened new possibilities for future resource growth at Veladero. (Photo: newscom.com newscom.com ) In-fill drilling within Amable and Filo Federico has also been encouraging. As a result, indicated resources now constitute 86% of the total Veladero mineralized inventory (see tables below), compared to 73% at the end of 1999. This qualitative improvement is expected to facilitate conversion of mineralized inventory to reserve classification when the results of economic studies are received by June 2000. The progress of the ongoing campaign has led Homestake and its joint venture partner, Barrick Gold Corporation (NYSE: ABX - news; Toronto: ABX - news), which owns the remaining 40% of the project, to increase the current $13-million-dollar project budget by $5 million. The increased budget will be allocated towards additional exploration as well as condemnation drilling on potential leach-pad and waste-dump sites. ``We are very encouraged by the excellent results achieved at Veladero in just a few months of drilling,' said Jack E. Thompson, Homestake's Chairman and Chief Executive Officer. ``We have substantially expanded the project's mineral endowment, made significant progress in assessing its metallurgical, hydrological, geotechnical and environmental characteristics, and improved its infrastructure development. One of our objectives is to build a critical mass of low cost production in South America similar to our existing production base in Canada, Australia and the United States. The recent results at Veladero move us closer towards achieving this objective.' Homestake Mining Company is an international gold mining company with operations and exploration activities in the United States, Canada, Australia and Chile. The company also has active exploration programs in Argentina. Shares of the company's common stock are listed on the New York Stock Exchange, the Australian Stock Exchange and the Basel, Geneva and Zurich Stock Exchanges in Switzerland. Homestake Canada Inc. Exchangeable Shares are listed on the Toronto Stock Exchange. Homestake began gold mining operations over 120 years ago, and is one of the oldest listed companies on the New York Stock Exchange still in its original business. It has received numerous industry awards for its responsible environmental health and safety management programs. For additional corporate information, please visit Homestake Mining Company on the Internet at homestake.com. CAUTIONARY STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT. This report contains forward-looking statements that are based on management's expectations and assumptions. They include statements preceded by the words ``believe,' ``estimate,' ``expect,' ``intend,' ``will,' and similar expressions; estimates of reserves, mineralization and future production; cost estimates; and other estimates of future results or activity. Such statements are ``forward looking statements' that involve risks and uncertainties that could cause actual results to differ materially from estimated results. Among the important factors that could cause actual results to differ materially are the following. Estimation of reserve and mineral inventory is an interpretive process based on drilling results and past experience as well as estimates of ore characteristics and mining dilution, prices, costs of mining and processing, capital expenditures and many other factors. Actual quality and characteristics of ore deposits cannot be known until ore is actually mined. Production may vary from estimates for particular properties and for the company as a whole because of changes in reserves, variation in ore mined from estimated grade and metallurgical characteristics, unexpected ground conditions, mining dilution, labor actions, and government restrictions. Changes in any factor may cause costs and time for completion to vary significantly from estimates. There is a greater likelihood of variation for properties and facilities not yet in production due to lack of actual experience. Veladero Project (100% Basis) as of March 7, 2000: Mineralized Inventory by Deposit & Classification [0.01 oz/ton Au cutoff grade] Tons Gold Silver Gold Silver DEPOSIT (Mil.) (oz Au/ton)(oz Ag/ton)(Mil. oz)(Mil. oz) AMABLE Indicated 81.8 0.040 0.820 3.2 66.9 Inferred 18.6 0.027 0.858 0.5 16.0 Total 100.4 0.037 0.825 3.7 82.9 FILO Indicated 97.4 0.036 0.525 3.5 51.1 FEDERICO Inferred 22.8 0.025 0.592 0.6 13.4 Total 120.2 0.034 0.537 4.1 64.5 TOTAL Indicated 179.2 0.037 0.659 6.7 118.0 Inferred 41.4 0.026 0.712 1.1 29.4 TOTAL 220.6 0.035 0.668 7.8 147.4 Homestake 60% 4.7 88.4 Barrick 40% 3.1 59.0 Veladero Project (100% Basis) as of Dec 31, 1999: Mineralized Inventory by Deposit & Classification [0.01 oz/ton Au cutoff grade] Tons Gold Silver Gold Silver DEPOSIT (Mil.)(oz Au/ton)(oz Ag/ton) (Mil. oz)(Mil. oz) AMABLE Indicated 42.1 0.055 1.059 2.3 44.5 Inferred 26.2 0.025 0.534 0.6 14.0 Total 68.3 0.043 0.858 2.9 58.5 FILO Indicated 44.4 0.041 0.496 1.8 22.0 FEDERICO Inferred 34.8 0.027 0.563 0.9 19.7 Total 79.2 0.035 0.525 2.7 41.6 TOTAL Indicated 86.5 0.048 0.770 4.1 66.5 Inferred 61.0 0.025 0.551 1.5 33.7 TOTAL 147.5 0.038 0.680 5.6 100.2 Homestake 60% 3.4 60.1 Barrick 40% 2.2 40.1 SOURCE: Homestake Mining Company -------------------------------------------------------------------------------- More Quotes and News: Barrick Gold Corp (NYSE:ABX - news; Toronto:ABX.TO - news) Homestake Canada Inc (Toronto:HCX.TO - news) HOMESTAKE MINING (NYSE:HM - news) Related News Categories: mining/metals -------------------------------------------------------------------------------- Help -------------------------------------------------------------------------------- Copyright ¸ 2000 Yahoo! All Rights Reserved. Privacy Policy - Terms of Service Copyright 2000 PRNewswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. Questions or Comments? biz.yahoo.com

To: Ken Benes who wrote (50118)	3/7/2000 12:53:00 PM
From: long-gone	Respond to of 116972

Then on the other side of the coin(though this is the smallest bit of total demand & $492 WAY ABOVE today's price): Tuesday March 7, 12:34 pm Eastern Time Delta hedges 560,000oz gold in Feb at A$492 LONDON, March 7 (Reuters) - Australian miner Delta Gold Ltd said on Tuesday it hedged some 560,000 ounces at A$492 an ounce in February, bringing its total hedged gold over the next 10 years to 2,005,000 ounces, or 49 percent of expected mineable reserves. Delta also has contingent hedging commitments, which become binding if the gold price trades above certain agreed levels between A$500 and A$800 on specified dates, and would result in a maximum further hedging of 305,000 ounces, or eight percent of expected mineable reserves. ``Australia's Delta Gold Limited took advantage of rallies in the Australian dollar gold price in February by adding another 560,000 oz to its hedge book at a weighted average spot price of A$492/oz,' Delta said in a statement.(cont) biz.yahoo.com