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Gold/Mining/Energy : SOUTH AFRICAN MINING -- Ignore unavailable to you. Want to Upgrade?

To: sea_urchin who wrote (93)	8/4/1998 10:33:00 AM
From: Giraffe	Respond to of 472

From Financial Times ... GOLD: Randgold project in Mali on track By Kenneth Gooding, Mining Correspondent A $63m (œ38m) expansion of the Syama gold mine in Mali was on track for completion in November, Randgold Resources, the African mining and exploration company, said yesterday. The report accompanied a loss before tax for the three months to June 30 of $10.5m, compared with $13.8m in the previous quarter. Attributable loss was cut from $23.7m to $9.3m. The Syama programme is designed to lift annual output to 270,000 troy ounces at a cash cost of $210 an ounce. In the quarter under review, Syama produced 30,956 ounces (24,961) at a cash cost of $319 ($417) an ounce. Syama's cash operating loss was reduced from $3.44m to $1.2m. Resources, which listed in London a year ago, and which is 57 per cent owned by Randgold Exploration of South Africa, said it had put the Morila gold project in Mali on a "fast track" for production in 2000 after establishing resources of more than 2m ounces of gold. However, a development decision for the Loulo project in Mali, had been delayed. Although the average cash costs at Loulo were projected to be $205 an ounce, returns on capital at the current gold price did not meet the company's hurdle rate. Exploration would continue at Loulo, however.

To: sea_urchin who wrote (93)	8/5/1998 4:35:00 AM
From: baystock	Respond to of 472

Searle - thanks a lot for your thoughful response.

To: sea_urchin who wrote (93)	8/9/1998 11:37:00 AM
From: H.W.Melle	Read Replies (1) \| Respond to of 472

Searle I hope you are still monitoring this board and thank you for comments. Do you have any feel for the impact of the recent bombings on the rest of Africa. I'm sure that it had the same if not more impact (due to the severity) than what occurred here in US in Oklahoma City. Have the fears migrated to your area and are precautions being taken to prevent further outbreaks ie security, etc. Another thought that has been going through my head is the Y2K impact and if SA is making any progress in that arena -- especially any news on the SA mining industry's efforts. Thanks In Advance Horst (GoldDredger)