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

To: baystock who wrote (18)	1/22/2001 1:42:41 PM
From: Carol Putnam	Read Replies (1) \| Respond to of 20

Gold Fields of South Africa to wind up JAN 22, 2001, M2 Communications - The board of directors of Gold Fields of South Africa Ltd (GFSA) has agreed to propose to shareholders the voluntary winding-up of the mining house. The South African company, which was created by Cecil Rhodes in 1887 to mine the rich gold veins of Witwatersrand, has during recent years been forced by a declining gold price and global competition to become leaner and shed its cumbersome structures. In 1998 GFSA merged its gold assets with those of South Africa's Gencor Ltd to form what is claimed to be South Africa's second-biggest gold producer, Gold Fields Ltd. The remaining assets of GFSA have also been sold off, leaving the company with about ZAR9m in cash and another ZAR6.9m expected to come in liquidation payments from two subsidiaries. A general shareholder's meeting will be held on 16 February to consider the winding up of GFSA. The meeting will also consider a proposal from the directors to distribute the company's surplus cash as a special dividend to shareholders. (Company statement, 16 Jan 2001; Reuters, 16 Jan 2001.) African Mining Monitor includes paraphrased and abstracted material with the source, which is deemed to be reliable and duly identified. AMM is unable to provide full-text copies of these original documents. ((Comments on this story may be sent to info@m2.com)) African Mining Monitor-(C)1998-2001 M2 COMMUNICATIONS LTD