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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Bill Murphy who wrote (809)	9/4/1998 6:31:00 AM
From: sea_urchin	Read Replies (3) \| Respond to of 81836

Bill : Thank you very much for the kind invitation. All the same, I'm not sure, in view of my past experiences on various forums, that I should, or even am able to, come on board such an impressive and dignified forum, as yours: (1) I'm too controversial (2) I'm too rude (3) I have no respect for "sacred cows" (4) I like to call a "spade" a "black" (5) I come when I can ( go when I please ) --- and not just to please the ladies (6) I am racist, sexist, homophobe, fascist and atheist (7) I do not believe in the I Ching, Elliott Waves, Affirmative Action or Political Correctness and, most importantly (8) Being a South African, I am a victim of a communist and Illuminati-inspired take-over of my country as well as a Soros-inspired bear attack on my currency. Consequently, I can't afford the $99. And so, if it is possible for you to please admit me as a refugee I might try it --- but then you must bear the consequences! PS. The gold index went up over 10% on the JSE this AM.

To: Bill Murphy who wrote (809)	9/4/1998 6:56:00 AM
From: ForYourEyesOnly	Read Replies (2) \| Respond to of 81836

Gold fever hits Durban Roodepoort Deep at last His is a tale of overcast to blue sky: "Prospects have brightened considerably." Where a mine operates right at the margin and often at a loss, an uptick in gold leads to big jumps in profitability. At Durban Deep, cash operating profit rose 355% in rand terms to R7.5-million. Unlike the bigger, infinitely wealthier Driefontein, Durban Deep took retrenchment costs of R840 000 on the chin. After net sundry revenue, operating profit reached R8.4-million before R12.9-million of capital expenditure. Kebble was expecting Durban Deep to make only R1-million in the quarter. The company has three sections: Durban Deep/West Wits, Blyvoor/Doornfontein and Buffelsfontein, and it aims to take over dump retreatment company Crown Consolidated by the end of the month. At the start of the quarter, things looked so bleak that mining at Doornfontein was curtailed, but it recommenced on June 1. Overall gold production dropped 12% to 4 205kg and cash costs were reduced by another 3.5% to $296/oz, the objective being $260/oz. "A year ago, we were sitting on costs of $420/oz," recalls Kebble. Project work has been renewed at most of the mines. He says Durban Deep's hedge programme was restructured to take advantage of the rand's decline and netted R51 031/kg, 3% more than the average spot gold price, and that the hedge, taken for protection, is now being restructured. The strategy is to be about 30% hedged. Kebble has high hopes for the Argonaut project or "Crown jewels": 40-million ounces of gold directly below Johannesburg. More holes are to be drilled to define the payshoots and a three-dimensional seismic survey will be completed from existing and new data. Existing infrastructure at Crown and City Deep can be used for access. Kebble hopes to have more to report next quarter. The dump retreatment company Crown cut its loss to R3-million for the quarter. Managing director Dick Plaistowe forecasts costs will come down to R46 000/kg, and lower still when the modified Knights plant is reopened and fully recommissioned.