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

To: pater tenebrarum who wrote (56114)	7/12/2000 1:33:19 PM
From: prosperous	Read Replies (4) \| Respond to of 116815

Heinz Any idea what's happening with GLDFY today? down 80% with no news in sight...do you think insiders are dumping on some yet to be announced information? would you bite at this level? Thanks and regards Hemant Rotithor

To: pater tenebrarum who wrote (56114)	7/12/2000 2:10:43 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 116815

Heinz: Here is the bearish view on the auction from the BANK CREDIT ANALYST. In a June 30th Insight, we noted that gold had been unable to take advantage of good news. Now a string of bad news has helped to erode prices: the dollar has stabilized, Austrian and Swiss central banks have announced gold sales, and today's Bank of England (BOE) auction was very disappointing. The interest in BOE gold sales, 25 tons every two months, has been steadily declining. The January auction had bids for 100 tons, the March auction for 75 tons, the May auction for 66 tons and today's auction for only 33 tons. A drop below the $270 low reached in late-May would be ominous. Investors should continue to avoid gold and related shares Note they ignore the better action of the gold shares.

To: pater tenebrarum who wrote (56114)	7/12/2000 2:48:56 PM
From: Rarebird	Read Replies (2) \| Respond to of 116815

One of the dangers in regard to gold stocks at this point is that some investors/traders may dump their shares and invest it in Technology if they feel a major new leg up is developing. I only have a target of 4450 on the NAZ so I'm not in the Bublicious camp yet. As you know, I calmly ( HA HA!) called for this breakout to take place and wasn't fazed in the least by the recent choppy behavior. PS Gold stocks do look very vulnerable here. 4100 is a very key level for the COMP to break through. Follow through buying should materialize if that level is taken out.

To: pater tenebrarum who wrote (56114)	7/13/2000 7:00:26 AM
From: long-gone	Read Replies (1) \| Respond to of 116815

guess there is more than one way to make money from gold: AngloGold takes major stake in large jewellery manufacturer Date: Thursday, July 13, 2000 AngloGold, the world’s largest producer of gold, is to acquire a 25% stake in OroAfrica, the largest manufacturer of gold jewellery in South Africa, for R55 million. This marks another bold move by AngloGold to market gold and to extract value from gold products beyond the sale of gold bullion. OroAfrica is an unlisted South African company owned by the Nathan family (56%), Global Capital/Investec (Global) (25%) and management and staff (19%). The company was created in 1998 from the restructuring of an established diamond jewellery manufacturer, Efune Brothers. The company employs 170 people and at present consumes an estimated 6 tons of gold annually at its new manufacturing centre in central Cape Town. OroAfrica has a strong export focus and has established a 50/50 joint venture with an Italian company, Filk Spa, for the manufacture of gold chain jewellery in South Africa specifically for export to the United States. Filk Spa is the largest and most technically advanced manufacturer of machine-made gold chains in the world, producing 42 tons of gold chain annually. The export market will remain the focus of OroAfrica’s growth going forward. The company will continue to seek new market and manufacturing opportunities overseas and will offer OroAfrica jewellery for sale on the AngloGold joint venture gold website when this begins to operate. The acquisition of an interest in OroAfrica is AngloGold’s first venture in the realm of jewellery manufacturing, but is the latest in a series of innovative initiatives by the gold giant to market its product worldwide. More than 80% of the world’s gold is used in the manufacture of gold jewellery. Developed markets, such as the United States and Europe, where OroAfrica and Filk have their strongest sales, account for over one-third of world demand for gold jewellery. In developed markets, where gold jewellery is primarily purchased for adornment as opposed to investment, the premiums (added value) on gold jewellery product are the highest in the world. In the United States alone, retail sales of gold jewellery in 1999 amounted to US$14.7 billion. While the investment in OroAfrica is being made on sound commercial grounds, the shareholding also offers important strategic benefits to AngloGold . The company will use its investment in OroAfrica to encourage the creation of new jewellery products relevant to the modern developed markets and to promote the branding of gold jewellery in these markets. The choice of OroAfrica also provides an opportunity to contribute to the development of the South African jewellery manufacturing industry in a meaningful way. AngloGold CEO Bobby Godsell commented: “We see this as a positive move for our company. It is, in line both with our corporate strategy to seek value from gold and our commitment to marketing the metal we mine. OroAfrica is an impressive company with an important strategic alliance with a world-class Italian jewellery manufacturing company. “OroAfrica has shown a capacity to grow rapidly in South Africa and to export successfully into developed markets overseas, where consumer demand for gold jewellery is an important element in the health of the gold market in the future.” “AngloGold aims to extract value from its product beyond the current limits of mining,” said Kelvin Williams, Executive Director, Marketing. “The premiums on gold are highest further down the product chain in the business, so this move is expected to generate additional revenue for the company, and enhanced shareholder value down the road. “While this partnership is separate from our other major marketing intiative with JP Morgan and PAMP, the internet retailing joint venture, GoldAvenue, clearly there are synergies.” During 2000, AngloGold will spend some US$16 million on its global marketing initiatives. anglogold.co.za