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To: EyeDrMike who wrote (6550)	10/19/1998 11:12:00 AM
From: CoffeePot	Respond to of 119973

......that's one heck of a hit with no news....just picked up 1k @ 1 7/8......now I'll do some DD<gg>

To: EyeDrMike who wrote (6550)	10/19/1998 11:17:00 AM
From: CoffeePot	Respond to of 119973

10/19 05:07 New Coal<AMCJ.J><IGEJ.J> plans data room for bids JOHANNESBURG, Oct 19 (Reuters) - The partners of a major South African coal joint venture said on Monday they expected to open a data room early next year as part of an effort to seek black empowerment partners. Anglo American Coal <AMCJ.J>, Ingwe Coal Corp <IGEJ.J>, Gold Fields of South Africa <GLDF.J> said in a joint statement on Monday that plans to create a black-led coal mining group, New Coal, were on schedule. The new company, announced on July 30, is expected to have coal sales of 18 million tonnes a year. "Over the next few months, Amcoal and Ingwe will develop evaluation criteria in terms of which proposals made by interested parties will be assessed," the partners said. "Once this exercise has been completed, a comprehensive information memorandum, with a supporting data room, will be established and interested parties will be invited to submit proposals," the statement said. The target date for establishing New Coal is January 1, 1999. The partners have agreed that the various operations that will comprise New Coal will be merged and operated as one business entity prior to introducing new shareholders. New Coal will be managed on an interim basis by a joint Ingwe/Amcoal management team. "The creation of New Coal at an early stage will enable prospective shareholders to gain an accurate view of the previous and current performance of the various operations now being merged," the statement said. Since the July announcement, Amcoal's bid for 100 percent of Gold Fields Coal <GFCJ.J> was approved by GF Coal shareholders and South Africa's Supreme Court. New Coal will include several collieries, coal rights and some other assets currently managed by Amcoal, Ingwe, Gold Fields Coal.

To: EyeDrMike who wrote (6550)	10/19/1998 11:20:00 AM
From: CoffeePot	Respond to of 119973

10/19 05:43 GFSA<GLDF.J>shares surge as mkt absorbs unbundling JOHANNESBURG, Oct 19 (Reuters) - The unbundling of Gold Fields of South Africa (GFSA) has created confusion in the market as investors try to re-calculate the real value of the share, mining analysts said on Monday. The share price rocketed over 65 percent or 332 cents up to 840 cents by 0930 GMT as the market reacted to the distribution of GFSA's holdings in Gold Fields Limited <GFLJ.J> and Standard Bank Investment Corporation Ltd (Stanbic)<SBCJ.J> to GFSA shareholders on Friday. "The market is battling to price this share and they are recalculating the balance of GFSA's porfolio," one analyst said. Analysts agreed that despite the morning's surge, the share was still at a discount to the company's net asset value. "At around 800 cents the share is at a discount to fair value...our fair value is around 15 rand a share. There might be a little more upside here," said another analyst. "There is still a fairly diversified portfolio left," he added. GFSA still has Northam Platinum Ltd <NHMJ.J> and Zinc Corp of South Africa Ltd in its stable along with property and cash. GFSA sold off its gold mines earlier this year and has been selling or unbundling its assets that will see the 111-year-old company disappear in two years. The company sold its 48.6 percent stake in O'okiep Copper Co Ltd <OKP.A> to junior South African miner Metorex Proprietary Ltd for 28 million rand on October 5.

To: EyeDrMike who wrote (6550)	10/19/1998 11:25:00 AM
From: CoffeePot	Read Replies (1) \| Respond to of 119973

O.K here it is Company News October 19, 1998 11:26 AM EDT Headlines 10/15 10:14 TABLE - Zinc Corp <GLDF.J> Sept qtr profit falls JOHANNESBURG, Oct 14 (Reuters) - Quarter ended September 30. (million rand unless stated) Profit after tax 10.1 vs 11.5 Tax 4.1 vs 10.5 Operating profit 10.2 vs 19.3 Capital spending 5.2 vs 4.5 Sales 171.8 vs 142.5 Full name: Zinc Corp of South Africa Ltd. NOTE - Zinc Corp said production and profits during the quarter were affected by the scheduled annual shutdown of the No. 2 acid plant. Zinc Corp is a subsidiary of Gold Fields of South Africa Ltd <GLDF.J>. For full text statement please double click on [nJSE150124] I'm in