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Strategies & Market Trends : Natural Resource Stocks -- Ignore unavailable to you. Want to Upgrade?

To: isopatch who wrote (3161)	11/11/2003 9:17:39 AM
From: Jim Willie CB	Respond to of 108986

interesting CEO interview of Anglogold's Godsell on CNBC Anglogold (Au) some points: merger with Ashanti is proceeding, which brings colossal African production to Anglo expected production for 50 more years at several million oz annually paying down their hedgebook, from high of 18moz to 8moz now prepare the business operations to work off sales of gold at $320/oz as worst case (so pleased at higher numbers) expects gold price to move north of $400/oz in next couple months when asked why new cycle of gold demand is here, he said: movement worldwide now away from dollar-denominated assets, like bonds and stocks he implied that low rates were not attractive on bonds, without clearly stating it new demand is investment demand in recent months, as opposed to motivation from political crises as in the past a pretty good interview, with no sneid comments a far cry from the soft lobs given to Barrick's CEO two weeks ago that CEO was totally let off the hook on his claims of high gold prices taken in, which has decimated their longterm debt (no followup, Mr Haines of CNBC) as their hedgebook was rolled over, they used new debt to permit the roll the CEO boasted of their successful roll, relying nicely on ignorance of shholders and the interviewer / jim