Das neue Südafrika

"Ja, jetzt aber umgekehrt, jetzt sind wir die Neger !!"
=======================================

Refrain:

Wir sind die Eingeborenen von Trizonesien,

Hei-di-tschimmela-tschimmela-tschimmela-tschimmela-bumm!

Wir haben Mägdelein mit feurig wildem Wesien,

Hei-di-tschimmela-tschimmela-tschimmela-tschimmela-bumm!

Wir sind zwar keine Menschenfresser,

doch wir küssen um so besser.

Wir sind die Eingeborenen von Trizonesien,

Hei-di-tschimmela-tschimmela-tschimmela-tschimmela-bumm!


@eldo,

Deine Schilderungen der RSA Verhältnisse sind bestimmt zutreffend

und das kann sich weiter verschlimmern. Das schlägt aber höchst-

wahrscheinlich nicht auf die GM-Companies durch.

Hochfinanz ist heute Organisiertes Verbrechen -hier wie da-. eben globalisiert.

Ich bin jetzt auch zu 100% raus aus dem südafrikanischen Markt - und fühle mich gleich viel besser und werde jetzt wohl auch wieder besser schlafen können. Der Markt ist einfach zu unsicher. Manipulation wird wahrscheinlich nicht vorkommen, aber eine Seite weiter hinten habe ich genug Gründe erklärt, die gegen Investionen in südafrikanische Aktien - speziell Minenaktien - sprechen

Da muss man Optimist sein in RSA sonst ist es ganz bescheiden...

Oder einfach nur du... ääh unvernünftig? Es ist ein grosser Fehler eines Börsianers, darauf zu warten, bis seine Verluste wieder "aufgeholt" wurden. Diversifizierst (Streuung) du? Wenn ja, welche Aktien hast du sonst noch in deinem Depot (einfach so mal ne Zwischenfrage, ich hoffe, das OT sei mir gestattet)?

Mein Depot sieht so aus:
CH-Aktien >>> ABB (ABBN), Von Roll (ROL) und Swisslog (SLOG)
XETRA >>> e-m-s new media AG (EMN.ETR) und Altana (ALT.ETR)
US-Aktien >>> Affymetrix (AFFX), Coeur d'Alene (CDE), International Business Machines (IBM), Isolagen (ILE.ASE), North American Palladium (PAL.ASE) und Prana Biotechnology (PRAN)

@ Prosciutto

Ja mit dem Depo da bist schon wer.

Ja da erzaehlts du mir Sachen und gibst Ratschlaege ?,
Trotzdem Danke schoen ich habe es mir schon lange gemerkt und gespuert aber gebe Dir keine Ratschlaege als schlauer Anleger.

Ich und diversifiziert ?..,

Ja, ich habe zur Zeit 122 Titel weltweit,.... reicht Dir das ???

Musst a bisserl lesen hier, dann findest du die Titel.

Aeeh , sag mal aergerst dich immer noch ueber Harmony ??

Oder uber mich ???( ......weil du Aeeh sagst.

Ich kann da nichts dafuer, ich lebe nur hier.

Good luck mit deinem wohlausgesuchten Depo Titel wuensche ich Dir.

Biotech und IBM hast auch aber um die beneide ich dich nicht.

Mfg

XEX

@Italien.Prosc....(zu schwere Sprache),

schweift etwas vom Thema ab.

Lese bei Dir "Von Roll". Vor 5? Jahren war ich mal auf

einen Schweizer Stahlhändler gestoßen, der so hieß.

Mit dem gings damals steil bergab.

Hat sich der Laden gefangen?


gruss

tambok

Dass Harmony eine Scheissfirma ist, habe ich ja mehrmals ausgeführt. Allerdings habe ich vor ein paar Tagen Durban nachgekauft.

Natürlich, a) weil ich einen an der Waffel habe :D.

Und b) weil das nach wie vor die einzige Kaffernmine ist, die fundamental unterbewertet ist. Einen diversifizierten <500.000 Oz Produzenten mit diesen Reserven & Ressourcen und einem KUV von 1 kann man sonst lange suchen.

Damit wir uns nicht falsch verstehen: natürlich ist auch Droopy eine Scheissfirma.

Aber wenigstens eine, die die richtigen Schlüsse gezogen hat und jetzt nicht mehr von der SA-Produktion abhängig ist. Das wissen wohl auch die Gewerkschaften. Droopy ist nicht vom Streik betroffen - warum wohl?

Gruß

OhneRente

[quote]Original von OhneRente
Dass Harmony eine Scheissfirma ist, habe ich ja mehrmals ausgeführt. Allerdings habe ich vor ein paar Tagen Durban nachgekauft.

Natürlich, a) weil ich einen an der Waffel habe :D........

Weil DRD und Harmony eine scheiss Firma ist !

Wer will denn.... Ohne Rente dastehen !!!

Kauf den scheiss wenn ihn keiner mag und warte ab...

Geduldig !!......

Sehen schon noch welcher scheiss es ist.

We'll see................

Gruss

Eldorado

OhneRente,

Punkt a) zählt hier nicht wegen Tautologie, d. h. haben wir alle.

Aber ob es wirklich ein Zeichen von Solidität ist, daß die

Arbeiter dem Vorstand ein paar Erdnüsse in den Hut werfen,

glaube ich nicht.

Und dann ist das Ritzel von den Fijis mit der Kon Tiki

zur Reparatur nach Australien unterwegs.


Hab übrigens selbst Droopy, schöner als Sado-Maso!

Bernard Swanepoel, chief executive of Harmony Gold
By: Belinda Anderson
Posted: '09-AUG-05 14:00' GMT © Mineweb 1997-2004

MINEWEB: Bernard Swanepoel, the CEO of Harmony, is in the studio. We had quarterly numbers out today – numbers also for the full year, given that it was the fourth quarter. Before we get into those, Gareth Tredway, you went along to the presentation today. Give us some background.

GARETH TREDWAY: Belinda, well the extensive restructuring programme that began at the beginning of last year is almost complete at Harmony, and the company says is should start to hit its cost targets soon. It also looks like the hidden value project in Papua New Guinea is going well, as additional drilling in the quarter resulted in a resource and reserve upgrade. The company also generated a cash operating profit of R45m in the quarter, compared to a R55m loss in the March quarter.

MINEWEB: Thanks, Gareth. Bernard, welcome. Just to start off with, how do you respond to what Gwede Mantashe had to say? He reckoned that you were walking all over the unions, you were meeting fire with fire. Is that valid?

BERNARD SWANEPOEL: Well, I must have been in a different industry in the last 18 years. It certainly has been a industry where I think we have worked together often, but it’s also an industry where we’ve had to deal with legacy issues. We probably, all of us, inherited an industry which really was built on racial grounds. We had to undo that. It was an industry where people were not developed – we looked at labour as cheap. That’s no longer true. I mean, the average employee in Harmony cost to company is in the order of R6 000. None of those sort of things of the past is actually true any more. I think Harmony’s own role in the industry as the guys who take mines that other people throw away has saved some 40 000 jobs over the years. Quite honestly, I haven’t been in that industry where we’ve sort of trampled all over the union. But I certainly have been in an industry where there’s been a very constructive relationship with all stakeholders, including the National Union of Mineworkers.

MINEWEB: I asked Gwede as well what was so fundamentally different now, compared to the last 18 years where we have been able to avert strikes – what to your mind is so different?

BERNARD SWANEPOEL: Well, it does look as though there are broader issues at play. I can’t ever recall a strike season like this in the general economy. So I think we have to see our specific situation in that context as well. I am told that every country that had to make the step down from a high-inflation environment to a low-inflation environment industry took strain. And this is really where we are on the same side. I mean, I need workable increase for my workers as much as Gwede wants one for his members. I mean, it’s the same people. We don’t represent different people here. And I recently, last year October, got a 4% increase. That was quite painful. It makes you think – is my inflation really 4%, is my cost of living only going up by that? So we are all facing the same challenge here. I really think we will phase this sort of expectation of lower wage increases in over a one- or two-year period. But it’s going to be painful.

MINEWEB: Do you think it might be politically motivated at all?

BERNARD SWANEPOEL: I’m not on expert in that field. I’m a miner from the Free State.

MINEWEB: And how long do you think this strike is going to last, and what’s it going to cost your company?

BERNARD SWANEPOEL: You know, it simply can’t last long. I mean, for the companies it is extremely expensive. Our quarterly results show what a 14-day strike in the Free State did to us, as Harmony, in April. End of March, beginning April, we had a 14-day strike. Fortunately for us, six or so of those days fell over the Easter weekend. But you can still see it in our numbers. It is very expensive.

MINEWEB: What did it cost?

BERNARD SWANEPOEL: Our estimation, about R150m to the company. For the individuals, it is as expensive. You know, the unions in this country don’t have a strike fund, they don’t have resources they can tap into, to supplement salaries. Workers lose money from day one. They typically lose their bonuses after two or three days for the month. That’s the nature of production bonuses. It is just too expensive for us to let it carry on for long. I think both parties again understand and agree to that. I think Frans made the point about how fundamentally different the players in the industry are. I mean, South African gold mining is what Harmony is – 90% of our revenue is generated here. So we are more exposed to the South African rand, but to the South African industry. You would expect that we may take a slightly different approach to the Canadians, which have got a single half of a mine in South Africa. I’m not too surprised at the difference in approach.

MINEWEB: We hope that does get resolved soon. But, looking at your company specifically and its performance, you said today at your presentation – I had a look at the slides Gareth brought along – you said, “With our restructuring largely complete, we can focus on delivery and growth” – what did that restructuring entail? Just remind us.

BERNARD SWANEPOEL: A painful 20 months. In total, the sort of employment levels in Harmony would be down by over 10 000 people over the last 20 months. This was a process which actually ran reasonably smoothly on half of Harmony, the half other than the Free State operations. That was extensively completed by end of last year. This year, then, in the Free State, we reached a few agreements. We battled to implement those agreements. We then took the more legal approach of serving notices and going the formal retrenchment route. That process was interdicted in early May, which made us restart the process. And on the 19th July we reached agreement with the last of the three unions, being the National Union of Mineworkers. And that really would see us finalising that process in the next few days.

MINEWEB: What is this focus on delivery and growth? What’s it going to translate into?

BERNARD SWANEPOEL: Well, it will translate in a reduction in our cost structure, of which the people reduction was only one component. Obviously, during a period of restructuring, volumes are affected. People just don’t produce – their minds aren’t on mining, their minds are on job security and other issues. As part of the whole battle with our workers in the Free State, they withdrew support for Sunday permission, which effectively undid conops – full calendar operations. That is in the process of being reimplemented. And that typically on a shaft gives you some 20 to 25% higher volumes. So it’s a combination of all of these initiatives that will see Harmony re-establish profitability.

MINEWEB: What percentage of your production is now running on conops?

BERNARD SWANEPOEL: All of the mines that we want – that would be all of our operations outside the Free State, plus the three biggest of our operations in the Free State. I would guess about 70 to 75% of our South African production is now on conops.

MINEWEB: Gareth was telling me a very interesting thing a little bit earlier on – how you assembled a crack due-diligence team that you had initially intended to put together for the Gold Fields deal. You didn’t need it for that. So you put them onto your own assets. How successful was that?

BERNARD SWANEPOEL: Yes, very. Obviously, I think, time will judge whether Gold Fields is a better company for the Harmony hostile bid. Certainly, we always intended to make Harmony a better company, with or without. As you said, we put the teams together, and then when the Gold Fields bid didn’t come off, we let them loose on some of our own operations. We thought that we ran pretty efficient operations. We still think so. We targeted 10% sort of overall improvements – express it as cost-per-kilogram reductions – and on the first three of our operations we seemed to be achieving 15%. So even when you think you’re in shape, you can probably shed another kilo or two.

MINEWEB: More fat to be cut out. Talking about Gold Fields, how much do you still own, and are you planning to sell that stake any time soon?

BERNARD SWANEPOEL: We acquired 56m shares in Gold Fields – thousands and thousands of shareholders actually did accept our offer. Difficult to believe now. But we sold 30m of those shares. So we still own 26m shares. Obviously, we’ve reclassified our stake in Gold Fields. We had a strategic intent. That didn’t come to fruition, so we reclassified it. It’s now purely an investment. But with the cash on our balance sheet, we also have no need to convert more Gold Fields shares into cash. Quite honestly, somebody who invests in Harmony gets better exposure to gold through our holding of Gold Fields shares than what they would get through more cash on the balance sheet. So it has been reclassified, but we have no short- or medium-term plans to dispose of it.

MINEWEB: You have increased the amount you are going to spend on capex quite significantly – it’s almost going to double. Why is that?

BERNARD SWANEPOEL: This is the year in which we will start with the mine in Papua New Guinea. That’s an open-pit mine. And the advantage of an open-pit mine is that it only takes 18 months to construct. The disadvantage of course is you spend all of the capital in a period of 18 months. So the biggest difference, year on year, is really – I think there is some R420m-odd coming through in this year already for the mine in Papua New Guinea. We have always capitalised our mines well in South Africa. We have been spending money on our South African growth projects throughout the Gold Fields bid, throughout the restructuring. So we believe we are funding our future.

MINEWEB: Gareth mentioned you’ve got some very rigid cost targets, and various other targets that you have set for yourself. Are you confident, taking all into consideration – you’ve finished your restructuring – are you confident that the company is on the right track?

BERNARD SWANEPOEL: You know, for us to be a worthwhile investment proposition, we need to have a decent profit margin. And we shouldn’t apologise for targeting that. We need to make more money than what it takes to maintain and grow the company. And we need to get our cost to that R75 000 a kilogram target level in order for us to be a viable business, quite frankly. So, perhaps we may be late by a day, but we can’t be out by lots, because we really need that to be a decent, viable investment proposition.

MINEWEB: David Shapiro, what do you think?

DAVID SHAPIRO: Overall, first I have to endorse what Bernard said about one company that tried to remove the legacy of the past. And also, I think, looking at the strike, you can see the pain in Bernard’s results. I think it’s one miner who has tried his hardest to turn his mines around. And I think they are going so far, they’ve pushed aside the Gold Fields deal, they are moving on now. Now to have to be burdened with a strike I think is a little heavy. But I think Bernard is a tough fighter, he’s fought through harder battles and, just judging from his history he will come out on top. And we do hope that they come out top, because it is a top mine and I think they’ve done a lot for the mining industry in South Africa.

MINEWEB: Bernard Swanepoel, Harmony’s chief executive , and we do hope that strike gets resolved very quickly.

Durban hat schon vor ein paar Tagen zum Einstieg geklingelt

HMY ist ein Scheißladen, eher GFI. Auf jeden Fall hat Droopy das größte Aufholpotenzial von allen. Und die Kombination von Geisterbahn und Achterbahn kann auch vedammt Spaß machen

Die grüne Linie sind 50 Tage, die rote 200. Wenn grün rot nach oben durchkreuzt, geht es heidewitzka, fallera.

Gruß

OhneRente

Erwartet das unerwartene, dass habe ich gemeint am 10. August wo die Stimmung fuer RSA Minen schlecht war bis auf ein paar Optimisten die das Handtuch nicht geworfen haben sogar gekauft haben wie Ohne Rente. Ich bleibe be meiner Vorraussage mit JSE-Gold bei ca. 2200 ende dieses Jahres. Ich sagte auch der Streik geht auch vorbei.

Man kauft diese Aktien wenn sie keiner mag und verkauft sie wieder wenn alle danach schreien.

Gruss

Eldorado

@Eldo

Richtig....meine Harmony sind sogar inzwischen marginal im Plus.
Nun bin ich in der Situation die du auch schon im Geiste durchrechnest.
Was Tun
Halten oder verkaufen. Ich möchte dieses Geld auf jeden Fall aus strategischen Gründen in SA lassen. Ich denke Harmony wird sich trotz allem in den nächsten 1-2 Jahren rein performancetechnisch besser entwickelon wie GFI (die eigentlich die bessere Firma ist). Eben wegen des hohen SA Minenanteils. Ich tendiere zu halten.
Deine Meinung als Mann vor Ort??

Grüsse

@ Valueman

HOLD AND WAIT IMHO

XEX

@ELDO

Danke für die Bestätigung meines Bauches

Grüsse

@ Valueman

Lekker, im Moment steigt HMY und GFI, DRD korregiert wie erwartet nach dem high von gestern, die anderen Seniors fallen.

Passt scho ! :))

Solche scheiss Firmen !

Was meinst wie die hupfen wenn gleichzeitig der Rand faellt und Goldpreis steigt..

Da heisst nur abwarten, die lows waren da fuer die RSA Minen, IMHO.

Am besten Urlaub machen, wer geht als naechstes von uns damits wieder steigen.

Viva Grenadilla !

XEX