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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: gold$10k who wrote (6152)	1/7/2002 6:30:37 PM
From: ldo79	Respond to of 36161

Goldcorps Robert McEwen speaks: Goldcorp's CEO Robert R. McEwen Talks to The Wall Street Transcript NEW YORK--(BUSINESS WIRE)--Jan. 7, 2002--The Wall Street Transcript has published an in-depth interview with Robert R. McEwen, president and CEO of Goldcorp (NYSE:GG - news), in which he talks at length about the company's future. The interview was conducted in 2001. The entire 1,900-word interview is available free online at twst.com McEwen gives an overview of the company. ``In 1993, I began restructuring a group of five companies, which concluded in November of 2000. We now have one company that the market can focus on. During that period of 1993 to present, our share price has grown at a compound annual growth rate of 31%, outperforming the performance of the Dow, Nasdaq, IBM, GE, Berkshire Hathaway and we're just a little behind Microsoft right now.'' McEwen explains, ``We will produce, in 2001, 600,000 ounces of gold at less than a $100 per ounce cash cost. Our game plan is to move up to million ounces of annual production at a cost of $100 per ounce. That's about 60% growth over the next three to four years. Approximately half of that could come from our Red Lake Mine; the balance will come from acquisitions in the sector. We believe the time is ripe to be stepping into the market.'' Looking forward, McEwen states, ``We're one of the lowest-cost gold producers in the world and we're debt-free. We have not sold our gold forward, so we're unhedged. We provide a dividend yield equal to the S&P yield. We have expanding cash flow and we have ownership in properties that are extremely prospective from an exploration standpoint. We're listed on the New York and Toronto Stock Exchanges, symbol GG on the New York and G on the Toronto. Our responsibility code is if you give us a dollar, we have to make it grow and in order to make it grow we have to see a higher share price, not a larger market capitalization alone.'' biz.yahoo.com Sounds like he's got it together. Regards, ldo79

To: gold$10k who wrote (6152)	1/7/2002 9:58:44 PM
From: t4texas	Respond to of 36161

this week on normandy deal biz.scmp.com Tuesday, January 8, 2002 AUSTRALIA Battle for Normandy gold prize enters the final stage REUTERS in Sydney Suitors for Australia's Normandy Mining will begin courting investors in earnest this week as the tussle between AngloGold of South Africa and Newmont Mining of the United States enters its final stage. With the bids split by just a few cents and both parties convinced they will win, AngloGold and Newmont are eager to persuade investors of their long-term virtues. "We are very confident, we have got the better bid, the better currency and the better company at the end of the day," said Bruce Hansen, Newmont's chief financial officer. AngloGold chief executive Bobby Godsell, who said on Friday he was encouraged by the narrowing gap between the bids, would host a Sydney press conference today and woo fund managers this week. Neither party is expected to meet the Normandy board, which recommends shareholders accept the Newmont offer. Since the battle began in September, both groups have added sweeteners to their offers, and just five Australian cents now separate the bids. Newmont's A$1.89 a share bid values Australia's biggest gold producer at A$4.23 billion (about HK$17.17 billion), while AngloGold's A$1.84 offer equals a A$4.11 billion price tag. Shares in Normandy closed a cent lower at A$1.85 on the Australian Stock Exchange yesterday, close to the top of an independent A$1.48 to A$1.88 a share valuation at the start of the takeover battle. Normandy's attraction lies in its annual two million ounces of gold, which will make the winner the world's largest producer. AngloGold, whose bid closes on Friday, argues it offers better value because the firm has a stronger track record of profitability, generating cash to reinvest and paying dividends. The Australian Financial Review said yesterday AngloGold also was expected to release firm details of the benefits of a link with Canada's Barrick Gold before the end of the week. AngloGold has held talks on "possible patterns of co-operation" with Barrick, in their global operations with a focus on Tanzania and the Kalgoorlie Super Pit and Boddington expansion projects in Australia. Newmont, which expects its offer to be approved by regulators by the middle of next month, said investors who held on until then would benefit from the higher bid price and the greater liquidity of Newmont stock. "There's a five-cent differential, I think that's meaningful, but I think what's most important is value recognition at the end of the day," Mr Hansen said. "People really are looking at trade-off between timing and value certainty here." The US group, whose bid is tied in with the purchase of Canada's Franco-Nevada giving it control over 19.9 per cent of Normandy, claims arbitrage players who hold up to 40 per cent of Normandy stock are likely to be lured by Newmont's liquidity. "We have a call option on 20 per cent of the stock and we are in a very good position with the arbitrage and investor clientele looking for liquidity and our call option and I think it ultimately will put us over the top," Mr Hansen said.

To: gold$10k who wrote (6152)	1/7/2002 10:25:19 PM
From: Frank Pembleton	Read Replies (2) \| Respond to of 36161

Vt, great article -- at-the-moment there's a lot of talk of recovery because of the move in base metals. It's a signal dammit! But a signal for what? There was a program on the tele the other day called "The Great Game," it was a 2 hour history of the stock market. I wasn't too bad a program I even stayed awake for most of it. There was one segment where they illustrated charts on base metal stocks (including steel companies) where they became 5 baggers during periods of war. They just rocketed through WWI and WWII time periods - nice place to be as an investor. I think the moves in these stocks are very much like the moves in the Canadian integrated oil companies. This isn't a sign of recovery as much as it is a war insurance premium. I think Mr. Market is giving us a signal of a prolonged and expanded war in the ME Regards Frank P.