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

To: goldsheet who wrote (90746)	10/25/2002 5:13:03 PM
From: goldsheet	Read Replies (1) \| Respond to of 116871

Higher gold prices are making some folks think about large future projects: Durban Deep Assesses Gold Reserve DURBAN Roodepoort Deep, which returned to positive earnings territory yesterday when it reported its results for the September quarter, is carrying out a feasibility study in an effort to assess if it would be economically viable to mine the Argonaut gold reserve, which spreads under southern Johannesburg. Mark Wellesley-Wood, Durban Deep's CEO and chairman, said a decision on whether the project would go ahead would not be made for four years, and if it did it would take eight to 10 years before the project would be producing gold. Durban Deep said Argonaut has a resource base of 111-million ounces. The company said yesterday that "management believes the project will be viable at current rand gold prices and thus represents a major opportunity" FULL STORY: allafrica.com