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Gold/Mining/Energy : Endeavour Mining (EDV.TO, EDVMF) -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (418)	8/29/2008 5:16:01 AM
From: Madharry	Read Replies (1) \| Respond to of 544

Aug. 28 (Bloomberg) -- Rand Refinery Ltd., the world'slargest gold refinery, ran out of South African Krugerrandsafter an ``unusually large'' order from a buyer in Switzerland. The order was for 5,000 ounces and it will take until Sept.3 for inventories to be replenished, said Johan Botha, aspokesman for Rand Refinery in Germiston, east of Johannesburg.He declined to identify the buyer. Coins and bars of precious metals are attracting investorsas a haven against a sliding dollar and conflict between Russiaand its neighbor Georgia. The U.S. Mint suspended sales of one-ounce ``American Eagle'' gold coins, Johnson Matthey Plc stoppedtaking orders for 100-ounce silver bars at its Salt Lake Cityrefinery and Heraeus Holding GmbH has a delivery waiting list ofas long as two weeks for orders of gold bars in Europe. ``A lot of people are worried about the dollar, they'reworried about inflation and now we have geopolitical risk withwhat's happening in Russia,'' said Mark O'Byrne, managingdirector of brokerage Gold and Silver Investments Ltd. inDublin. O'Byrne said his company's sales are up fourfold thisyear, heading for a record since its founding in 2003. Gold rose to a record in March and is 25 percent higherthan this time last year, while the dollar dropped 7.4 percentagainst the euro. Silver is up 15 percent in the period. Salt Lake French Foreign Minister Bernard Kouchner said EuropeanUnion leaders meeting in Brussels Sept. 1 will discuss sanctionsagainst Russia after it recognized the independence of tworegions of Georgia. U.K. Foreign Secretary David Miliband saidyesterday Russia was trying to ``redraw the map'' of Europe. Johnson Matthey's Salt Lake City refinery doesn't have thecapacity to meet investor demand for 100-ounce silver bars, saidspokesman Ian Godwin in London. He wouldn't comment on whetherthe company may expand capacity or end production. The refinery usually gets orders for 1,000 ounce bars frombanks and silver grains from jewelers, Godwin said. Rand Refinery has manufactured, marketed and delivered morethan 46 million ounces of Krugerrands since the gold coin wasintroduced in 1967, according to the company's Web site.Krugerrands are minted at the South African Mint from gold coinblanks supplied by Rand Refinery. Gold for immediate delivery rose $2.29 to $829.19 an ounceby 5:24 p.m. in London. Silver gained 10.5 cents to $13.60.