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Gold/Mining/Energy : Newmont Mining(NEM) & Newmont Gold(NGC) -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (3)	6/3/1998 4:45:00 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 587

Wednesday June 3, 12:30 pm Eastern Time RESEARCH ALERT-Dresdner lowers Peru's Buenaventura LIMA, June 3 (Reuters) - Dresdner Kleinwort Benson said Wednesday it has downgraded its recommendation for Peru's Buenaventura (BUEt.LM) (BVN - news) to ''add'' from ''buy'' due to limited upside after the share's surge in recent days. The equity research house said ''not surprisingly the market has reacted positively'' to reports suggesting the leading locally-owned miner has won a court case to keep all of its stake in Yanacocha, Latin America's largest gold mine. Investors have assumed a Peruvian Supreme Court judge ruling in a dispute over a 24.7 percent stake in Yanacocha has decided in favor of Buenaventura and its joint-venture partner Canada's Newmont Mining Corp (NEM - news), Lima brokers said. The judge, Javier Beltran, said Friday he had made his decision and that it would be made public Monday. But there has been no official word on the ruling. Buenaventura's share price soared 10 percent Friday and has climbed gently since so that its labor share stood by mid- session in Lima Monday at 18.80 soles, 0.53 percent up on the day. The legal wrangling began in 1995 after France's Bureau de Recherches Geologiques et Mineres (BRGM), the original holder of the stake, tried to transfer the shares to Australia's Normandy Mining Corp. Ltd. (NDY.AX). Buenaventura and Newmont contested the transfer, arguing they had rights of first refusal. If Beltran rules for Buenaventura, BRGM and Normandy would probably only be able to continue fighting the case abroad, according to the firms.