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

To: Giraffe who wrote (347)	12/8/1998 7:18:00 AM
From: sea_urchin	Read Replies (1) \| Respond to of 472

True. But it will take a while to happen. Meanwhile, with this deal, AngloGold alone (= 14.1m oz), will produce 45% of the annual production of all the majors including itself, Newmont, Barrick, Placer Dome and Goldfields ( = 31.1m oz) Here's the story in this morning's local rag bday.co.za What I find interesting: "Godsell calculated the attributable gold reserves of Minorco's mines at 8,9-million ounces, with gold resources totalling 12,9-million ounces. This meant Anglogold was paying about $25 for every ounce in the ground. " Usually, SAf miners are valued at $5-10 an oz of gold reserves. So, this deal does exactly what the W.Areas/Placer deal did --- it significantly revalues a primarily SAf gold company without it having to produce any extra gold!