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To: 007 who wrote (3607)	10/1/1998 8:17:00 PM
From: Lucretius	Read Replies (1) \| Respond to of 14427

that is the nature of the discount. I think this risk will drop though as the S. African economy profits form its gold production, much the way Texas was an oasis of prosperity during the 70's while the rest of the country was in the crapper because of high oil prices. A great deal of stability is found when the economy is good. If we can put up w/ Bill for two terms, W's and B's can get along in South Africa when everyone is making money. NEM is a great co and is unhedged, hence it is doing well. I own some, but for longer term oriented investors I prefer the S. Africans because over time they have more value to unlock. that's my take.