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

To: goldsheet who wrote (56946)	8/2/2000 5:36:21 PM
From: lorne	Respond to of 117011

S Africa's DRD reduces the size of its hedge book Johannesburg--Aug. 2--South African gold producer Durban Roodepoort Deep Ltd (DRD) says its has reduced its hedge exposure since the September quarter, but the group would not give a mark-to-market value on its position. However, new finance director Ian Murray told the company's results presentation for the quarter ended June 30 that the effect of the hedge book on the company's net present value (NPV) was negative 250 million rand. (Story .19517) S Africa Randgold Resources' hedge book US$12.6 mln under water Johannesburg--Aug. 1--London-listed gold producer and exploration company Randgold Resources' hedge book was in the red by U.S. $12.6 million as at June 30, when marked to market, according to finance director David Ashworth. Speaking at the group's results for the quarter ended June 30, Ashworth said the forward position on the group's Morila project in Mali was out of the money by $9.4 million, while the Syama mine, also in Mali, was down $3.2 million. (Story .18362) SWISS GOLD: SNB reserves down 74.4 mln Sfr to 38.106 bln Sfr Zurich--Aug. 2--The Swiss National Bank disposed of 74.4 million Swiss Francs' worth of its gold reserves in the last 10 days of July, it announced Wednesday. This is equivalent to roughly five tonnes, slightly below analysts' Expectations that the SNB would dispose of about one tonne daily until the end of September, when new quotas take effect. However, the SNB still seems on target for its goal of selling a total 120 tonnes by end-Septembe r. (Story .12228) Homestake namesake gold mine under "close watch", says CEO New York--Aug 2--Gold miner Homestake Mining Co.'s namesake mine in South Dakota struggled during the quarter as grade problems contributed to a rise in the cost of production from a year ago, Chief Executive Officer Jack Thompson said in a conference call. The mine is under "close watch" at this stage and Homestake is "evaluating all the alternatives available." (Story .20236) crbindex.com