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

To: russwinter who wrote (67879)	4/19/2001 1:06:45 PM
From: goldsheet	Read Replies (1) \| Respond to of 116972

Harmony is interesting, since all of the anti-hedgers love its idealistic policies, yet as you have correctly pointed out they bought two sick mines (Elandsrand and Deelkraal) from Anglogold and they appear to not being a very good job of day-to-day management based on their most recent quarterly report. Sure Harmony is a sign of mining industry problems, a greater sign of specific problems related to mining in RSA, and now maybe bad company management ??? I thought Harmony was going to target 3 million ounces, diversify into Australia, and be a survivor, now I wonder what they are doing. It is starting to look like they acquired a bunch of marginal stuff in the hopes of higher prices, but that is what Royal Oak Mines did, and we know how well that worked out.

To: russwinter who wrote (67879)	4/20/2001 3:03:54 AM
From: goldsheet	Respond to of 116972

As quarterly reports come out, here are two more miners who are not heeding your request to cut production. Normandy produced 557,531 ounces in the March 2001 quarter, which was down 1.4% from the 565,695 produced in the December 2000 quarter, and up 32.9% compared to the 419,477 ounces produced in the March 2000 quarter. Sons of Gwalia produced 119,516 ounces in the March 2001 quarter, which was up 13.7% from the 105,098 produced in the December 2000 quarter, and up 26.9% compared to 94,153 ounces produced in the March 2000 quarter.