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

To: goldsheet who wrote (57020)	8/5/2000 11:48:48 AM
From: long-gone	Read Replies (1) \| Respond to of 116960

My exact quote: "but they are a LARGER company than same time last year" Don't addition proven reserves = a "larger company"? "Successful drilling programmes at Nyamulilima Hill in the Geita district of Tanzania, and Buzwagi in the Kahama region, have defined 2.6 million ounces of attributable resources. " Now if you want to talk "bought" since then, Sunrise Dam was part of Acacia & I show it produced and was NOT part of AU in same quarter 1999!!!! : ANGLOGOLD SET TO ACHIEVE 100% OF ACACIA Date: Wednesday, December 22, 1999 South African-based AngloGold announced today that, having received acceptances for more than 90% of the shares in Acacia, it will initiate compulsory acquisition procedures to acquire the outstanding shares after the offer closes on Friday, 24 December 1999. Remaining Acacia shareholders can expect to receive compulsory acquisition documents as early as next week. AngloGold CEO Bobby Godsell said: “I am delighted that our offer has been so successful and that we will achieve our aim of holding 100% of Acacia. “This acquisition puts a substantial number of AngloGold shares into the hands of Australian investors and creates a market for our shares in this important gold producing area. “Introducing AngloGold to Australia will be completed when we join the All Ordinaries Index and the ASX Gold Index on 3 April 2000.” AngloGold’s offer to acquire Acacia’s entire issued share capital involves an exchange of AngloGold shares for those of Acacia at the rate of 3.5 AngloGold shares per 100 Acacia shares. The offer closes on 19:00 (Melbourne time) on Friday, 24 December 1999. AngloGold was entitled to 93.3% of Acacia shares at close of business on Wednesday 22 December. HA!

To: goldsheet who wrote (57020)	8/5/2000 12:01:34 PM
From: long-gone	Read Replies (2) \| Respond to of 116960

BTW, you & I spoke about hedge positions some time ago & I asserted that some producers had reduced overall hedged position. As AU has increased reserves so greatly & has also reduced hedge position, is this not a double hit in the correct direction? I agree, we have a long way to go yet, but there is now movement in the overall correct direction. ANGLOGOLD HEDGE POSITIONS Date: Thursday, February 10, 2000 In mid-1999, the company took a correct view that gold had been oversold, and announced publicly its decision to remain out of the forward market and to avoid further selling into an oversold market. The net hedge position of the company of 418 042 kilograms priced forward at the end of 1999 was some 10 tonnes lower than the position at the end of the third quarter. In 2000, we intend to continue to deliver into our hedge, and this is likely to mean lower levels of hedge cover going forward. The company’s price hedges today represent cover for 11% of the reserves of the company, and less than two years of production, spread out as shown in the attached hedge summary. For the year 2000, the company has in place price cover for half of production, with the balance of gold production of over 100 tonnes or 3.5 million ounces fully leveraged to the spot gold price.