Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: d:oug who wrote (86100)	5/30/2002 8:54:16 PM
From: marek_wojna	Read Replies (1) \| Respond to of 116821

Hi,Doug Should I place a WARNING before I post anything about GATA which is taking more and more place in the mainstream media? I don't think so. <<>Gata gets a donation, gold firm gets a punt By: Tim Wood Posted: 2002/05/30 Thu 19:55 EDT \| © Miningweb 1997-2002 PRINCETON, New Jersey -- Foreign stockholders in South African open cast gold miner Afrikander Lease [AFKDY] have donated 100,000 shares of the company to the Gold Anti-Trust Action Committee. The generous contribution carries a market value of around $70,000 and was arranged by Patrick Driscoll and Quinton George. George is the managing director of Trinity Holdings, a Cape Town asset management company that has been promoting Aflease relentlessly since it debuted on Nasdaq. George says his firm and allied shareholders control more than least 30 per cent of Aflease. Driscoll was instrumental in raising money in SA to pay for an exorbitantly priced full-page newspaper advert presenting the Gata viewpoint. The adverts ran in conjunction with a Gata conference in Durban that was intended to awake the country to its own rape at the hands of the gold cartel. "The above gift represents a mere token of shareholder appreciation for the amazing work you have done," wrote Driscoll in an e-mail message to Bill Murphy, chairman of Gata. "Quinton George and I would like to thank you and Gata for your tremendous efforts over the past few years in exposing the Gold fraud and getting truth into the public domain via the Internet and your presentations." Interviewed on Miningweb's sister radio programme, Classic Business, was less willing to say Gata is correct in its allegations about a global conspiracy to suppress the price of gold. "Whether all his allegations are accurate I suppose only time will tell," George hedged, if you'll excuse the pun. What he clearly sees is an opportunity to put Aflease in front of an even bigger retail audience in the US. There has been a steady trickly of bullish reports on Aflease and the tone and tempo can only improve from here on as far as Aflease shareholders are concerned. George said, rather candidly: "I think the most significant things that we value about [Gata] is that they believe in emerging markets, they believe in gold as money and not as a commodity, they believe in the people that have suffered through a bear market in resources and particularly gold – I really value that about Bill Murphy." $15,000 (the cost of the shares) doesn't go a long way in buying PR in the US, but the shrewd Aflease shareholders will find their money going an exceptionally long way on the Gata publicity train. Aflease does have some troubles to get over though with a massive stock overhang and institutional qualms about how a tussle for control will be resolved. Institutional shareholders baled out of the stock through the first quarter and into the second quarter on a threat by black empowerment opportunity Mzi Khumalo to sell his stake of 40 million shares. Nevertheless, the company is cheap on any fundamental valuation, but until Khumalo's weak hand is shaken loose and foreign companies have an unencumbered right to make acquisitions in SA, Aflease will probably continue to trade at a severe discount to its competitors. Meanwhile, allow Driscoll to have the last, sentimental word: "On behalf of all those shareholders of Aflease who share our vision for the future of gold, the mines that produce it, and the nations that need it to store their people's wealth."