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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: goldsheet who wrote (1376)	6/14/2001 9:22:33 AM
From: russwinter	Read Replies (1) \| Respond to of 4051

Goldfields eyes Ashanti: potential for another anti-hedger to buy back a large book? I've also been trying to get FN's direction on NDY's hedging, but the response (unlike my microcap juniors, where in some cases I own 1-2% of the stock) and attitude is "who are you?". I believe FN's annual meeting is 6/28, and if I don't get a strong signal about this, I'm out of the stock. Anybody heard anything? minesite.com But also this story? bday.co.za

To: goldsheet who wrote (1376)	6/15/2001 9:32:12 AM
From: russwinter	Read Replies (1) \| Respond to of 4051

More detail from Shaw's "Trend in Hedging" report: NDY decreased hedge book a little in first quarter down 378K to 10.2 m oz. Received an e mail from a FN investor who has looked into and discussed the situation with that mgt. Apparently FN is not (at least publicly)going to pressure for buybacks. NDY is not rolling over into new positions now, just delivering production. Of the Aussies, New Hampton (bought by Harmony) was a big hedger in the first quarter. Delta, Western and Goldfields (Aus.) were into it big as well. But as I've been suggesting, the market dynamics have really changed. The forward contango has dropped as follows: 12-31-00: 5.26% on three month basis 3-31-01: 3.03% 5-1: 2.02% now: 1.8-1.9% range The next Fed cut (possibly 50 bp?) expected 6/27 will really benefit this market structure and POG. At 275, four Aust producers are under water on their hedge books. At 300, seven more will be, and at 350 all will be, many critically.

To: goldsheet who wrote (1376)	6/20/2001 8:45:10 AM
From: russwinter	Respond to of 4051

Interesting and long overdue approach. I love the principals. WRM's stock price is head of itself on this development, but what possibilities: A Bunch Of Heavy Hitters Get Behind Wheaton River Minerals On fundamentals alone Wheaton River Minerals would not attract the attention of many investors. It operates the Golden Bear Mine in British Columbia, and is advancing the Bellavista gold project in Costa Rica through to production. Wheaton River also owns the George Lake project, the third largest undeveloped gold project in Canada. George Lake has been optioned to Kinross Gold Corporation, which must spend $20 million to earn a 70% interest. Early in 2000, Wheaton River purchased a 100% interest in Red Mountain which is at pre-feasibility stage. The plan is to mine the rich core of the deposit which contains around 350,000 ozs gold at an average grade of 12 g/t. Not a lot to write home about, particularly when it is borne in mind that Golden Bear will only contribute around 30,000 ozs this year and will pack up at the end of the year. Last year it produced 94,000 ozs at a cash cost of US$186 and so has proved that the company is capable of bringing a gold mine into profitable production. These fundamental facts, however, miss the real point of the Wheaton River story. At a time when gold is showing some flickerings of renewed life and the dollar is wobbling, an assembly of powerful and well placed individuals have got behind the company. On the board now are Frank Giustra, Neil Woodyer and Ian Telfer, all of whom are well known in North American mining circles. Giustra is chairman of Endeavour Capital Corporation, a merchant banking operation specialising in mining, having previously been chairman and CEO of Yorkton Securities. During Frank Giustra's time at Yorkton, the firm raised nearly $3 billion in equity for various mining companies. Ian Telfer was president of TVX Gold from 1983 to 1993 and was president and CEO of Vengold Inc. from 1993 to 2000. Neil Woodyer is managing director and founder Mr. Woodyer is managing director and founder of Endeavour Financial. It is effectively the advisory and investment -related services arm of Giustra's Endeavour Capital Corporation so the two men are not unknown to each other. Endeavour Financial also shares offices in London with Dragon Capital Corporation, so this brings in the Welsh wizard Tony Williams who was a close cohort of Giustra in the glory days of the Canadian mining finance industry before Bre-X. All three, it is believed, worked closely together to help salvage Namibian Minerals. It is the two advisers to the board, however, who will really open the eyes of investors. One needs no introduction at all, though it is surprising to find him involved with such a minnow, and that it Pierre Lassonde. He is the co- chief executive of Franco Nevada and is said to be one of the great brains of the gold industry. Sadly his proposed merger with Gold Fields hit the rocks of the South African banking authorities, but Franco Nevada recently took a strategic stake in Australia's foremost gold mining company , Normandy. The other adviser is Eugene McBurney who, as might be expected , is boss of Griffiths McBurney & Partners, a leading firm of stockbrokers in Toronto. With that bunch of heavy hitters on and around the board Wheaton River should come up with some interesting acquisitions as Endeavour's plan is to make it the core for consolidation among junior gold mining companies. It is debt free, has around $19 million in the kitty and is a profitable gold producer with ambitions to become one of North America's top, mid-tier gold producers. The new team plans to leverage its strong cash position, and its operating and management team to acquire advanced gold projects at discounted prices to vault itself to the top of the mid-tier gold producers. That is the plan and it certainly has the ability in terms of both finance and management. What it now has to do is find the deals, and that is never as simple as it looks. 20 June 2001