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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Alex who wrote (33133)	5/5/1999 7:15:00 AM
From: long-gone	Respond to of 117072

Like I said, the governments of the world can not stop the mergers with-out admiting gold has value. When there are (in the end) only a few gold miners left and the CB's have sold & loaned the single last oz, what then????????????? Mergers continue: Court Approves Gold Fields/Driefontein Merger; New Gold Fields to Be Listed on Nasdaq JOHANNESBURG, South Africa, May 5 /PRNewswire/ -- Gold Fields Limited (OTC Bulletin Board: GDFDY - news) and Driefontein Consolidated Limited (Nasdaq: DRFNY - news) are pleased to announce that the High Court of South Africa today sanctioned the Scheme of Arrangement through which the two companies will be merged into a new company, to be known as Gold Fields Limited. The transaction will be implemented on Monday, 10 May 1999 and will be effective from 1 January 1999. Chris Thompson, Chairman of the new Gold Fields said, ''This merger establishes a larger, financially robust company with a strong balance sheet and exceptional cash flows, with which we aim to grow the company.'' In addition, the United States Securities and Exchange Commission and the Nasdaq Stock Market have given approval for the new Gold Fields to maintain Driefontein's existing Level II ADR (American Depositary Receipt) listing on Nasdaq. The new Gold Fields will begin trading on Nasdaq on Monday, 10 May 1999, under the symbol ''GOLD''. ''The new Gold Fields will have a free float which is more than double that of its predecessors which, together with the Level II ADR listing on Nasdaq, will provide investors with significantly enhanced liquidity and tradability in our stock,'' Thompson added. The new Gold Fields will have its primary listing on the Johannesburg Stock Exchange and also trade on the London, Paris and Swiss Stock Exchanges and in International Depository Receipt (IDR) form on the Brussels Stock Exchange. The new Gold Fields will be one of the largest gold mining companies in the world, with measured and indicated resources of 158 million ounces, proven and probable reserves of 96 million ounces and annual production of 4 million ounces of gold. Current cash and total costs are US$223 and US$251 per ounce of gold produced respectively. ''Gold Fields is strongly focussed on reducing these even further through its ongoing productivity improvement programmes on all operations,'' said Thompson. SOURCE: Gold Fields Limited biz.yahoo.com