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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: TATRADER who wrote (25373)	10/17/2001 12:30:49 PM
From: DrGrabow	Read Replies (2) \| Respond to of 59879

ACTU? Overreaction? Gizzard? biz.yahoo.com

To: TATRADER who wrote (25373)	10/18/2001 9:33:01 AM
From: ldo79	Read Replies (1) \| Respond to of 59879

Drooy Reports: Durban Deep 1st-Qtr Profit Rises Fourfold on Rand (Update1) By Antony Sguazzin Johannesburg, Oct. 18 (Bloomberg) -- Durban Roodepoort Deep Ltd., Africa's fifth-biggest gold miner, said first-quarter profit jumped more than fourfold from the quarter before as output rose and a weakening South African rand widened profit margins. Net income before one-time items was 23.1 million rand ($2.5 million), or 15 cents a share, in the three months ended Sept. 30, up from 5.4 million rand, or 4 cents, in the company's fiscal fourth quarter, doubling some analysts' expectations. Production rose 0.6 percent to 8.15 metric tons. The two profitable quarters reversed two years of losses for Durban Deep. ``I expected a jump but I didn't expect that sort of jump,'' said David Davis, an analyst at SCMB Securities who forecast earnings of 8 cents a share. ``It's a combination of higher gold production and a higher gold price received.'' The South African rand has declined by as much as 19 percent against the U.S. dollar this year, boosting profit for gold producers who sell their metal for dollars while incurring most of their costs in local currency. The rand's decline has accelerated since the Sept. 11 terrorist attacks on the U.S., indicating earnings may rise further, analysts said. Durban Deep's gold fetched an average 2,210 rand an ounce in the reported quarter, up 7.3 percent from 2,060 rand three months earlier, Davis said. Since Sept. 30 gold prices have risen as high as 2,740 rand an ounce, a record in local-currency terms. That means profit will likely rise in the current quarter, the company said in an e-mailed statement. Durban Deep shares rose as much as 50 cents, or 5 percent, to 10.5 rand, bringing its climb for the year to 75 percent, the second-best performance on the 11-member Johannesburg All-Gold Index. Durban Deep is the first of South Africa's top four gold companies to release earnings for the quarter that just ended. Analysts expect the three biggest producers -- AngloGold Ltd., Gold Fields Ltd. and Harmony Gold Mining Co. -- to boost profits by up to 60 percent. Regards ldo79