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

To: .Trev who wrote (382)	2/9/1999 5:28:00 AM
From: sea_urchin	Read Replies (1) \| Respond to of 472

Trev Thanks. That's much as expected. The South shaft is the southern shaft of the original Western Areas property, which adjoins South Deep on its northern border. What they have done is simply to make some temporizing, "sideways" connections into South Deep. In due course, however, brand new shafts will have to be sunk on the South Deep property, itself, and that's where the money will be needed. The article does not say where the funds from the sale will be going or how they will be deployed. Here's some stuff from this morning's rag about Amplats and Impala in respect of the Bafokeng tribe who, I believe, are now the richest group of indigenous people in Africa! bday.co.za bday.co.za Also this, which we discussed, yesterday: "Amplats is said to be one of SA's mining companies under pressure to use its mineral rights or lose them under government's new minerals policy. However, Hunter believed Amplats would not liberate platinum reserves "willy-nilly" as the market was finely balanced." PS. I see your word-processor has dyslexia for capitals!! ;))

To: .Trev who wrote (382)	2/10/1999 4:56:00 AM
From: sea_urchin	Read Replies (1) \| Respond to of 472

Ah! A cryptic clue in this morning's paper. bday.co.za "...the $235m payment is expected to change the nature of Western Areas, enabling it to access and to capitalise on new earnings-enhancing growth opportunities." "...his company would scour the world for suitable mining projects" S'pose that means an ocean-going yacht and a round-the-world-cruise!! As usual, shareholders were impressed --- "Western Areas' share price shed 20c to end at R18,55 on the Johannesburg Stock Exchange yesterday". Shares were R28 when the deal was announced and R80 in 1996.