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Gold/Mining/Energy : GLDFY - Down 87% on no news!!! Good buying opportunity? -- Ignore unavailable to you. Want to Upgrade?

To: Bill Fortune III who wrote (15)	5/8/1999 4:00:00 PM
From: baystock	Read Replies (1) \| Respond to of 20

Bill, As far as I can tell Gold Fields of South Africa (GLDFY) is a investment holding company or possibly a closed end fund. One of its biggest holdings was the gold producer Gold Fields Limited (GFL), which it decided to distribute to its shareholders, since GLDFY was selling at a discount to its NAV. This distribution accounts for the huge drop in GLDFY's share price last year. Also GFL shared control of Driefontaine with Anglogold and GLDFY had worked out a deal with Anglogold to merge GFL and Driefontaine. I believe the merged GFL and Driefontaine is going to take over Driefontaine's ADR listing and as Lucretius pointed out the symbol will be GOLD and it will be the 2nd largest gold producer in the world after Anglogold: gfsa.co.za Regards, Ram

To: Bill Fortune III who wrote (15)	5/8/1999 4:21:00 PM
From: baystock	Read Replies (1) \| Respond to of 20

I think GLDFY maybe an attractive investment at this stage. I've heard rumors that GLDFY is selling at a 40% discount to their NAV and that they have a plan to liquidate or unbundle the fund by the end of this year. The following link shows their various holdings: gfsa.co.za This link is a bit dated, since they have already unbundled GFL and New Wits and sold Zincor. The rumor is that they plan to end up with just their platinum mine and the cash left over after disposing their remaining assets. Can anyone confirm what GLDFY's intentions are for the next 1 year ? Ram