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

To: Ahda who wrote (53127)	5/22/2000 3:04:00 PM
From: long-gone	Respond to of 116762

we shall see.

To: Ahda who wrote (53127)	5/22/2000 3:46:00 PM
From: Alex	Respond to of 116762

Gold Fields confirms "in discussions" Gold Fields has confirmed it is in talks with several parties, some believed to be North American precious metals companies. This follows numerous requests from analysts throughout Monday (22 May) in turn spurred by recent speculation that the South African group has intensified its search to value-adding acquisitions. Gold Fields spokesman Willie Jacobsz said: "There has been much discussion about consolidation in the global gold mining industry. Gold Fields indicated that it supports this view and plans to be a participant in the process. "We are engaged in discussions with a number of parties in this regard. Further than that, we cannot comment," he said. Several weeks ago, it was speculated that Canadians Placer Dome was in discussions to transact a merger with Gold Fields. But some analysts believe momentum for this transaction has fallen away in the wake of Placer's ongoing problems with its Getchell and Cortez operations, as well as bedding down the South Deep project in South Africa. Another deterrant has been the land disputes in Zimbabwe which have put a dampener on investing in the southern African region. Almost all of Gold Fields' assets are located in southern Africa, mostly South Africa. Despite these regional problems, it has been suggested that Toronto Stock Exchange listed precious metal company, Franco-Nevada, is one such target for Gold Fields. Franco-Nevada is a cash rich mining royalty company based in Toronto. Last year it merged with Euro-Nevada and owns a piece of Barrick Gold's Goldstrike operation. It has also other mining stakes in Nevada as well as platinum group metal prospects. It has positions in other resources which would not be of interest to Gold Fields. The company's chief financial officer recently acknowledged speculation on Bay Street linking his company with a number of names including Newmont, Normandy and Barrick. A Canadian source said it was most likely Franco would be rich pickings for a South African or Australian company anxious to gain North American operations and investors. The notion of Gold Fields moving into a company like Franco-Nevada, with its rich mix of diverse prospects, is not a strange one. Gold Fields recently invested in a platinum mine in Finland as part of a strategic thrust to turn itself into a precious metals company. Ian Cockerill, MD of Gold Fields, defended the move adding that platinum could return shareholder value and was therefore being considered by the group. By: David McKay mips1.net