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

To: re3 who wrote (57439)	8/19/2000 10:26:21 PM
From: goldsheet	Read Replies (1) \| Respond to of 116796

> Harmony is a steal, don't you think ? South African gold miners have always been relatively cheap, so ........ I would look at Harmony as $20 per ounce for its 27 million ounces of proven and probable reserves that comes with a "free" call option on the 260M of measured and indicated reserves. If they move it into P&P, great ! They just re-did their reserve calculations according to the latest South African SAMREC standards and used R60,000/KG (about $US275/OZ), which give them one of the most conservative methods in the industry (many companies are still at $300 or $325) Most importantly, look at its operations. HGMCY is now running production at 550,000 ounces per quarter, which will soon make them the 8th largest gold miner in the world right behind Homestake. It is generating R110M/US16M in EARNINGS ! EPS was $US0.64 for the year ending June 30, 2000 giving them a P/E ratio of 8.5 If it dipped down to $5, I'd buy it. stockmaster.com ref: sharenet.co.za