4xKaffern (Drooy, GFI, HMY, IAG) ab 28.04.04

    Kaffern nennt die moderne Völkerkunde die südöstliche Gruppe der Bantu (s. d.), im Gegensatz zu der Ethnographie der 60er Jahre, die mit diesem Namen alle Bantu bezeichnete, denen man dabei die Sudanneger (s. d.) als eigentliche Neger entgegenstellte. K. ist nicht Selbstbenennung, sondern die seitens der ersten Entdecker Ostafrikas, der Portugiesen, und der ersten Besiedler Südafrikas, der Buren, von den Arabern übernommene und verderbte Bezeichnung Kafir (d. h. Ungläubiger), womit die die äquatoriale Ostküste beherrschenden Araber alle Eingeborenen Ostafrikas bezeichneten. Das gegenwärtige Verbreitungsgebiet der K. liegt zwischen dem Großen Fischfluß im östlichen Kapland im Süden, dem Meer im Osten, der Kalahari im Westen und dem Victoria Njansa im Norden. In diesem ungeheuern Komplex sitzen sie geschlossen allerdings nur im Süden, während die Verbreitung nördlich des Sambesi nur sehr lückenhaft ist. - In ihrer Gesamtheit zerfallen die K. in die 5 Gruppen der Südostkaffern oder Amakosa, der Sulu (Zulu ist holländische und englische Schreibweise), der Matabele, der Betschuanen und der nördlichen Kaffern, wenn man alle nördlich der Sulu wohnenden K. in dieser Weise zusammenfaßt Die Südostkaffern reichen bis zur Grenze von Natal; sie zerfallen wieder in die Amakosa, Amagaleka, Amatembu, Amampondo und Amapondumisi, zu denen sich als ein Produkt der großen Wirren im ersten Drittel des 19. Jahrh. die Fingu gesellen. Politisch am bedeutsamsten und auch von nicht geringem Einfluß auf die Verhältnisse von Deutsch-Ostafrika sind die Sulu gewesen. Ihr Herrscher Tschaka hat zwischen 1818 und 1828 durch grausam geführte Kriege ganz Südostafrika unterjocht und viele Stämme zersprengt. Im Verfolg dieser Wirren hat Mosilikatse das Matabelereich zwischen Limpopo und Sambesi gegründet, und auch das Staatswesen der Makoloko im großen Sambesibogen, wie dasjenige der Basuto, in den Drakensbergen gehen auf die gleiche Ursache und dieselbe Zeit zurück. Das Matabelereich ist erst 1896 den Schlägen der Engländer erlegen; das der Basuto bereitet ihnen noch jetzt von Zeit zu Zeit Schwierigkeiten. - Die Betschuanen gelten als der mildere Typus des sonst sehr kriegerischen und kräftigen Kaffern. Ihr Gebiet erstreckte sich von den Drakensbergen bis tief in die Kalahari, und vom Orange bis zum Sambesi. Von den ursprünglich 23 Stämmen besteht unberührt keiner mehr, sondern alle sind mehr oder weniger durch die unumschränkte Herrschaft der Weißen in Mitleidenschaft gezogen worden. - Nördlich von den Sulu sitzen die Amatonga und die Swasi. Andere, weniger scharf als Volkstum ausgeprägte Stämme reichen bis an den Sambesi heran. Nördlich dieses Stromes finden sich K. unter dem Namen Angoni am Westufer des Njassa, als Wangoni im südwestlichen Deutsch- Ostafrika (s. d.), als Wambunga (s. d.) im Rufijital, und als Watuta wenig von der Südwestecke des Victoria Njansa entfernt. Über die Wanderungen, die Schicksale und den Einfluß aller dieser Gruppen auf die eingesessene Bevölkerung Deutsch-Ostafrikas s. Wangoni, Sulu und Suluaffen. Über die Sprache der K. s. Kaffernsprachen.

    Reuters


    UPDATE - Gold Fields outshines rivals with Q3 profit jump


    Thursday May 6, 7:43 am ET
    By Eric Onstad



    (Adds news conference, analyst, updates shares)
    JOHANNESBURG, May 6 (Reuters) - The world's fourth ranking gold producer, Gold Fields Ltd (GFIJ.J), reported a jump in third-quarter operating profit on Thursday on higher gold prices, lower costs and a recovery at a mine hit by fires.


    ADVERTISEMENT


    The South African group, restructuring hard-hit local mines while expanding overseas, said operating profit for the three months to end-March inmillion) compared to the previous quarter.


    The results followed weak quarterly profits at rivals Harmony (HARJ.J) and AngloGold Ashanti (ANGJ.J), wh


    Analysts said Gold Fields' result was flattered by a revival at the Dreifontein mine, which had suffered from fires in the previous quarter.


    "If Dreifontein had had normal production in the previous quarter,p so well," said analyst Allan Cooke at HSBC Securities.


    "That's not to take away from these results. Given that the rand was still strong, it was a good operational showing."


    Profits by South African miners have been slammed over the past year as hefty gains in the rand depressed export income from dollar-denominated gold. The rand (ZAR=) gained 28 percent last year, but was largely steady during the March quarter.


    Gold Fipercent this year, rose 0.5 percent to 75.20 rand by 1130 GMT, outperforming the gold mining index (^JGLDX - News), which was down 1.3 percent.


    MARGINS RISE


    Earnings per share (EPS), excluding contributions from financial instrued to 48 cents from 23 cents in the previous quarter, better than expected.


    Seven analysts polled by Reuters had forecast a consensus figure of 33 cents, with estimates in a range of 26-47.50 cents.


    Profits were helped by a recovery in operating margins tonks to a sl and lower costs. Margins doubled on South African operations to 14 percent and the group is targeting a further rise to 20 percent in the current fourth quarter, Mike Prinsloo, head of South African operations, told a news conference.


    This depends, however, on a local gold price of 90,000 rand per kg, compared to the current level around 85,000, he added.


    Gold Fields, like Harmony, has bperations to offset the impact of a strong rand on its profitability.


    Production is not expected to suffer but redeploying workers, Chief Executive Ian Cockerill told the news conference. Gold production dipped to 1.033 million ounces in the March quarter from 1.045 million in the previous quarter, but Cockerill said output is due to be slightly higher in the three months to end-June.


    TALKS WITH NORILSK


    Gold Fields is seeking to expand overseas to lessen its ex to boost output by 1.5 million ounces within five years in areas where costs are denominated in dollars, such as elsewhere in Africa and South America.


    Cockerill said Gold Fields had agreed with Russian methich took a 20 percent stake in the firm last month, to explore cooperation regarding gosomething concrete," he said, declining to give further details.


    Cooke said with Gold Fields' annual output slightly over four million ounces and Norilsk's more than one million, they might choose eventually to merge their gold operations.


    "It's early days, but a combination of the assets would make for an er," he said. "


    gogh

    GFI hat wohl abweichendes Wj.

    In dem Rand-Umfeld ganz beachtliches Ergebnis. Plus Norlisk Fantasie.

    ganz beachtlich!

    nach genau 1 Monat (28.04-28.05.2004)

    schauen wir nach bei den Kaffern:


    (siehe Posting 1)


    in US $
    =====



    ................28.04.04..................... 28.05.04


    ---------------------------------------------------------------------


    Durban (Drooy) 2,70 .....................2,96


    Goldfields (GFI) 10,30 ..................11,73


    Harmony (HMY) 11,02 ..................11,96


    Iamgold (IAG) 4,88 ... ....................5,64



    gogh

    aus der Sicht von IAMGOLD kann da garnichts

    schief gehen.

    IAMGOLD ist letztlich eine reine Holding für GM.

    Geleitet und Betrieben werden die Minen von

    den Seniors wie Goldfields und Anglo.

    IAMGOLD ist immer mit einem ordentlichen

    Prozentsatz an diesen GM - vornehmlich in

    Westafrika- beteiligt.


    Die anderen merger-Aktivisten wie Coeur und Wheaton

    stehen lange nicht so gut da, anders ausgedrückt

    sind weniger etabliert und haben weniger speck auf den

    Rippen. Am ehesten kann Golden Star mithalten.

    Deshalb werde die Aktivitäten von Golden Star wohl

    letztlich ausschlaggebend sein.



    gogh
    --------------------------------------------------------------------



    Artikel: 09-06-2004 aus Bloomberg




    Court delays Iamgold vote on Wheaton
    ========================


    Wheaton shareholders approve rival merger plan


    By Myra P. Saefong, CBS.MarketWatch.com


    Last Update: 5:48 PM ET June 8, 2004






    SAN FRANCISCO (CBS.MW) -- Golden Star said Tuesday that a court has granted its request to postpone Iamgold's vote on a merger agreement with Wheaton River Minerals, allowing Golden Star to move ahead with a formal offer to buy Iamgold



    At the same time, during an annual meeting Tuesday, Wheaton (WHT: news, chart, profile) shareholders approved the merger plan with Iamgold (IAG: news, chart, profile).


    The news also comes just a day after Vancouver-based Wheaton rejected a revised takeover bid from Idaho-based Coeur d'Alene Mines (CDE: news, chart, profile).


    "The postponement of the Iamgold vote is appropriate," said Brien Lundin, editor of Gold Newsletter.


    While "the merger between Iamgold and Wheaton River would be beneficial to both companies' shareholders, Iamgold's shareholders do deserve a chance to fully analyze the Golden Star proposal," he said. Lundin doesn't own stock in any of the companies involved.


    "Golden Star's offer for Iamgold makes more sense than Coeur d'Alene's bid for Wheaton River," he said, at "least on the face of it."


    Golden Star will likely have to increase its offer "if it wants to successfully take over Iamgold," Merrill Lynch analyst Brad Humphrey said in a note to clients.


    But Ben Johnson, president of Portland, Ore.-based investment firm First Securities Northwest, remained confident that the "previously planned friendly merger of Wheaton and Iamgold will take place."


    "It made good sense to both companies before Golden Star and Coeur d'Alene entered the picture," he said. Johnson and his firm do not currently own shares in any of the mining companies involved, though some of his clients do.


    On Tuesday, Golden Star shares fell 25 cents, or 5.1 percent, to close at $4.61.


    U.S.-listed shares of Wheaton closed at $2.84, down 14 cents, or 4.7 percent. Iamgold's stock fell 34 cents, or 5.9 percent, to end at $5.42. Coeur d'Alene shed 19 cents to close at $4.35.


    Golden Star's bid for Iamgold


    Under Littleton, Colo.-based Golden Star's (GSS: news, chart, profile) proposed bid for Iamgold, Golden Star will offer 1.15 common shares of its company for each common share of Iamgold -- a 13 percent premium over the closing price of Iamgold on May 27, the date of the proposed offer. At the time, the deal was valued at around $883 million.


    Iamgold's annual and special shareholder meeting will be postponed until June 29, under the court's ruling, Toronto-based Iamgold said. Iamgold was due to vote on the merger Tuesday.


    For now, Humphrey expects to see "volatility in Golden Star's share price as the market digests the various aspects of the transaction and weighs it against the alternative Iamgold/Wheaton River merger," he said.


    Wheaton's OKs merger with Iamgold


    During Wheaton's meeting Tuesday, more than 79 percent of the voting shareholders approved a merger with Iamgold.


    Under the terms of agreement, each Wheaton River share will be exchanged for 0.55 of an Iamgold share, which represented a 22 percent premium over the five-day average closing price of Wheaton as of March 30.


    Following the vote results, Iam Telfer, chief executive of Wheaton, said his company looks forward to "completing the transaction with Iamgold following their shareholder vote on June 29."


    Based on Monday's closing price of $5.76 for Iamgold's U.S.-listed shares and Wheaton's 568 million shares outstanding, the deal is worth around $1.8 billion.


    Coeur criticizes Wheaton board


    Coeur d'Alene criticized Wheaton late Tuesday for going ahead with its shareholder meeting despite Iamgold's meeting postponement.


    The Ontario court decision requiring Iamgold to delay its meeting, had "provided Wheaton River an opportunity to give its stockholders three full weeks of additional time to consider our increased -- and superior -- proposal," said Dennis Wheeler, chief executive of Coeur.


    He argued that Wheaton "chose to accept the affirmative vote of only about one-third of its total shares as representative of the sentiment of all of its stockholders."


    Coeur had added another $206 million last Thursday to its original takeover offer for Wheaton.


    The original offer, valued at $1.8 billion, was made on May 27, the same day Golden Star announced a proposed offer for Iamgold. See full story.


    Coeur's new offer for Wheaton -- the one Wheaton rejected Monday -- represents a 16-percent premium to the June 2 closing prices. See full story.


    Wheeler said Coeur will continue to pursue its merger proposal, and that it's "carefully considering all of our options."


    Myra P. Saefong is a reporter for CBS.MarketWatch.com in San Francisco

    Bratmaus


    Es mag sein, dass die Bezeichnung "Kaffer" inzwischen ethnologisch akzeptiert ist, weil sie eine bestimmte Gruppe von Menschen bezeichnet, aber ich persoenlich finde die Verwendung nach wie vor bedenklich bis inakzeptabel, speziell ausserhalb des ethnologischen Bezugsrahmens!


    Also mal eine Frage an die Nutzer dieser Phrase: Warum werden die suedafrikanischen Minenwerte mit "Kaffer", einem historisch belegbaren Schimpfwort mit rassistischem Hintergrund tituliert?



    Gruss,


    /Byte

    @Bytewurm,

    wenn die Frage nicht nur rethorisch gemeint ist.


    Der Begriff Kaffern im Minenzusammenhang wurde

    im W+O Forum vor ca. 1-2 Jahren ausführlich

    besprochen. Die anspruchvollsten Beiträge stammen von


    ANGLO und SOVEREIGN.

    Danach bin ich der Überzeugung, daß der Begriff nicht

    diskriminiert.


    gruss


    gogh

    Das Forum kenne ich nicht und die beiden zitierten Herrschaften sind mir auch nicht bekannt, von daher ist die Aussage nicht substantiiert - und deshalb bleibe ich vorerst bei meiner Meinung, daß es sich bei "Kaffer" um eine rassistisches Schimpfwort handelt, sobald der ethnologische Bereich verlassen wird.


    Aber das muss ja keinen anfechten, wenn ich dabei bleibe, kann ja jeder machen, wie er das für richtig hält.


    Gruß,


    /Byte

    [Blockierte Grafik: http://www.jci.co.za/images/group_structure.gif]



    Schema von JCI-homepage kopiert


    gogh






    Thu, 10 Jun 2004 Official Announcement [ST]
    =============



    JCI- acquisition of Wes Areas shares by Randgold



    JCI owns 35.6% of the issued share capital of Western Areas Ltd
    ============================================
    (`WAL`) and 21.9% of the issued share capital of Randgold.
    =====================================





    On 5 February 2004 and 2 March 2004, it was announced that WAL would proceed with a rights offer of 13.2m new shares at 3 050cps, in the ratio of 12.5 new WAL shares for every 100 existing WAL shares, to raise R401.7m.
    In February 2004, JCI agreed:
    -to advance a bridging loan of up to R400m to WAL, repayable out of the proceeds of the WAL rights offer;
    -to follow its rights entitlement in respect of its entire 35.6% shareholding in WAL; and
    -to underwrite the balance of the WAL rights offer for which irrevocable undertakings to subscribe for rights offer shares are not received (36.1%).
    Subsequent to the above, shareholders of the above-mentioned companies are advised that Inkwenkwezi Gold Mining Consortium (`Inkwenkwezi`) a broad based empowerment consortium, majority owned and controlled by historically disadvantaged South Africans (`HDSA`s`) and led by Mafika Mkwanazi, the non-executive chairman of WAL, and Randgold have agreed to acquire from Anglo South Africa Capital (Pty) Ltd and Tawny Eagle Holdings (Pty) Ltd (collectively `Anglo`), wholly-owned subsidiaries of Anglo American plc, their entire 18% shareholding of 19m WAL shares at 3 750cps, subject to certain adjustments.


    In terms of the acquisitions:


    Inkwenkwezi will acquire from Anglo 13.7m WAL shares at a price of 3 750cps, for a consideration of R515.2m subject to certain adjustments, payable in cash by not later than 1 November 2004. The WAL shares to be acquired by Inkwenkwezi represents approximately 13% of WAL`s issued share capital before the WAL rights offer;
    Randgold will acquire from Anglo 5.3m WAL shares at a price of 3 750cps, for a consideration of R197.6m subject to certain adjustments, payable in cash by not later than 25 June 2004 (`the Randgold acquisition`). The WAL shares to be acquired by Randgold represent approximately 5% of WAL`s issued share capital before the WAL rights offer and will be pledged by Randgold to Anglo in order to secure Inkwenkwezi`s obligation to Anglo pending completion of the Inkwenkwezi acquisition by not later than 1 November 2004. Inkwenkwezi has a call option on the 5.3m WAL shares at cost plus interest for 12 months from date of payment to Anglo for the Inkwenkwezi acquisition;




    JCI and Randgold will facilitate Inkwenkwezi by raising the required funding for the Inkwenkwezi acquisition by lending WAL shares to Inkwenkwezi on the basis that such shares will be returned upon payment by Inkwenkwezi of the purchase consideration by not later than 1 November 2004, and the delivery by Anglo of the 13.7m WAL shares to Inkwenkwezi;
    Randgold has undertaken to Anglo that should Inkwenkwezi, for whatever reason, fail to complete the Inkwenkwezi acquisition by not later than 1 November 2004, Anglo has the right to require Randgold to sell to Anglo the 5.3m WAL shares acquired for a consideration of R70m less than the consideration paid by Randgold for such shares including interest;




    If during the period from the signature date of the Inkwenkwezi agreement to 180 days after the closing date, Inkwenkwezi or any concert party of Inkwenkwezi acquires or sells any ordinary shares or rights to ordinary shares in WAL or any offer is made to shareholders of WAL generally, or should any scheme of arrangement be entered into between WAL and its shareholders generally, at a price per ordinary share of WAL in excess of the purchase price payable by Inkwenkwezi and the interest purchase price, the purchase price per share payable by Inkwenkwezi will be increased by 50% of the amount of such excess. A similar provision applies to the purchase price of the WAL shares acquired by Randgold.


    Randgold has undertaken to the Securities Regulation Panel for the benefit of the WAL minority shareholders, not to exercise the voting rights attaching to the 5.3m shares acquired by Randgold, unless and until Randgold and its concert party, JCI, shall have acquired the majority of the shares of WAL or shall have made a mandatory offer in terms of the Securities Regulation Code to the minority shareholders of WAL. The Securities Regulation Panel has given dispensation from the requirement that a mandatory offer to WAL shareholders is required as a consequence of the acquisitions. The Randgold acquisition will be notified to the Competition Commission and, if necessary, to the Competition Tribunal for approval.


    Rationale for the acquisitions


    In terms of the Mining Charter, the ownership of WAL by HDSA`s as defined in terms of the Minerals and Petroleum Resources Development Act (`the MPRD Act`), is required to be no less than 15% within five years of 1 May 2004, from which date the MPRD Act became effective. The 11.6% shareholding of Inkwenkwezi flowing from the direct acquisition from Anglo, in addition to the call option on the Randgold WAL shares of 4.5% based on the increased issued share capital of WAL after the proposed rights offer, will enable WAL to comply with its ownership obligations in terms of the Mining Charter. The existing HDSA shareholding in JCI and Randgold, together with Inkwenkwezi`s shareholding in WAL flowing from the acquisition of the shares from Anglo, will result in WAL being in excess of 15% prescribed in the Mining Charter.




    Randgold and JCI will lend WAL shares to Inkwenkwezi to facilitate the Inkwenkwezi acquisition, and in so doing, are acting in accordance with the objectives of the Mining Charter.

    The Randgold acquisition not only facilitates the Inkwenkwezi acquisition, but is consistent with its strategy of acquiring quality assets in the mining resources sector in pursuit of its stated mission of being a leader in the development of mineral resources in alignment with the principles of the MPRD Act and the Mining Charter.
    The acquisition by Inkwenkwezi facilitates the conversion of WAL`s old order mining rights to new form mining rights in terms of the MPRD Act.
    Compliance in terms of the MPRD Act enables WAL, JCI and Randgold to apply for the conversion of other mineral rights contiguous with South Deep to new form prospecting rights.




    A 12.5% participation in the Inkwenkwezi acquisition has been included to replace the existing WAL share incentive scheme, which scheme it is intended will be discontinued in its entirety, in the near future.
    Should the acquisitions be successfully implemented and should Inkwenkwezi exercise its call option, the Randgold acquisition will have no financial effect on Randgold. The salient dates of the WAL rights offer will be announced shortly. The WAL rights offer circular will now be submitted to the JSE for formal approval. After its registration by the Registrar of Companies it will be posted to shareholders. The necessary underwriting guarantees have been obtained.

    an diesem Aufsatz sind nur die obiter dicta interessant.

    Ghost buster jagen Kebble, altes Märchen für Goldbugs, neu erzählt


    gogh






    Kebbles regain Western Areas control
    =====


    By: Stewart Bailey



    Posted: '10-JUN-04 19:00' GMT


    © Mineweb 1997-2004



    JOHANNESBURG (Mineweb.com) -- Anglo American has sold its 19% share in Western Areas, half-owner of the world’s largest gold ore body, to Randgold & Exploration and a black-controlled South African company at a 30% premium to the market price. At a stroke, the deal allows the Kebble family to regain its control of Western Areas, while making the company compliant with legislation that requires 15% of mining assets be sold to black companies in five years.


    The deal will see Randgold spend R197-m in borrowed cash to buy a 5% stake in Western Areas. Meanwhile Inkwenkwezi, an unknown firm headed by the chairman of Western Areas, will buy 13% of Western Areas for R515-m. That will also to be funded by debt.


    A possible result of the deal, however, could be that JCI is forced to make a bid for the whole of Western Areas if the empowerment company cannot raise the cash it needs to buy the shares.


    Randgold has agreed to stand behind Inkwenkwezi’s participation in the deal. If the empowerment group cannot stump up the cash for the shares by November, Randgold will buy the shares in its stead. For that pleasure it will pay Anglo an extra R70-m.


    Western Areas and JCI chief executive Brett Kebble, confirms that if that scenario were to transpire, JCI would have to make a bid to the minorities of Western Areas by dint of the combined shareholding of JCI and Randgold going above the 50% mark.


    Nevertheless, an offer to minorities will hardly be necessary given that the shares now under JCI’s control is 40,6%. That number would be closer to 54% if Inkwenkwezi’s shares are taken into account, given that Kebble wields some influence over the empowerment company; he was instrumental in Inkwenkwezi’s inclusion in this deal and the appointment of Mafika Mkwanazi, Ikwenkwezi’s chairman, to the Western Areas board. The two also work from the same offices in Johannesburg.


    In any event, it is unlikely that JCI could fund the purchase of Western Areas, even at the current price which Kebble argues is half what Western Areas is really worth. If he is forced to make a bid, those are words that may haunt him.


    Kebble, however, remains confident that Inkwenkwezi will secure the financing it needs. He says the aim of the deal was never to cement control, but rather to facilitate black empowerment, a legal requirement for mining in South Africa.


    “It is not about control, that is just not an important issue for us,” he said. “The black empowerment aspect is the most important part of this deal.”


    It is a view that chimes with that of Western Areas’s other major shareholder, investment manager Alan Gray, which holds 25% of the company. “It is empowered now, and that is a major plus for us,” says Sandy McGregor, Alan Gray’s resource fund manager.


    Randgold & Exploration will have an easy job raising the finance. It holds more than a third of London-listed Randgold Resources, which will be handy collateral for any loan. Kebble says Randgold & Exploration will sell no Randgold Resources shares to fund the deal. For Inkwenkwezi, however, the task is harder. It has bought the Western Areas shares at 30% more than the current market price and it has nothing to offer as surety. Randgold & Exploration is certain to help out in that regard.


    Though the empowerment of Western Areas may be good news, Anglo’s exit is not positive for the company. South Deep, the half share of which is Western Areas only asset, has a reserve of 75-m ounces and should have been a mouth-watering prospect for Anglo’s local subsidiary, AngloGold. But the mine’s development is behind schedule and has been dogged by budget overruns and in-fighting between Western Areas and Placer Dome, its joint venture partner, and a hedge book that is underwater at the current gold price. Also, losing Anglo’s technical input will hardly be a bonus for Western Areas.


    Kebble is confident that management issues around South Deep have been solved, and is sanguine about the hedge. “The cheapest way to get rid of it is to deliver into it,” he says. Those deliveries against the hedge commitments might come from South Deep itself or from other sources. While altering the “quality profile” of Western Areas by buying more marginal mines is not on the cards, he says Western Areas could assist in financing other gold projects in exchange for a “gold return”. That gold, he says, could be used to pay into the hedge.

    Der Artikel ist heute über die Startseite der GOLDSEITEN verlinkt


    Sollte Harmony tatsächlich OXUS kaufen, wäre das ein

    gewagtes Abenteuer:

    1. Weil Oxus von zweifelhafter "Stabilität" ist

    und

    2. Weil dann außer Goldfields auch der 2. Kaffern-Major

    eine Verbindung mit der ehemaligen Sowjetunion eingeht.

    Das ist dann schon ein Stück Geopolitik.


    gogh





    Harmony plunges on Oxus plans
    ==========================

    By Justin Brown
    Gold mining group Harmony (HAR) on Tuesday plunged almost 6% on speculation that the company is looking at acquiring AIM-listed Oxus Gold, which has gold mining interests in Uzbekistan.

    By midday Harmony was the biggest loser on the JSE's all share index, declining 5.73% or 3.69 rand to 60.70 rand after falling as low as 62.98 rand earlier in the session

    Harmony's share price has also been under pressure due to a weak rand per kilogram gold price, which is making many of its South African operations unprofitable.

    Since the beginning of June, the rand gold price has been hovering just above the 80,000 rand per kilogram level, which compares unfavourably with Harmony's cash costs, which averaged R82,852/kg during the March quarter.

    Shares in Harmony declined more than the rest of the local gold sector on Tuesday due to the speculation around the company's bid for Oxus, Investec Securities analyst Leon Esterhuizen said.

    World number four gold miner Gold Fields (GFI) and Canada's Placer Dome had both looked at Oxus and walked away, Esterhuizen added.

    Harmony's attempt to diversify its earnings away from South Africa by taking a look at Oxus has been interpreted as a desperate one, he said.

    There is also the possibility that Harmony could overpay for Oxus.

    Looking ahead, Harmony is likely to return its South African operations to profitability, with the company's recent acquisition of low cost, high grade Avgold considered to be a positive move, Esterhuizen added.


    I-Net Bridge

    15/06/2004 Source: I-Net Bridge

Schriftgröße:  A A A A A