If the strikes at Harmony continue and impact all of Harmony's mines, global mine production of gold could be reduced by three to four percent -- temporarily, of course. Should the NUM be successful at reinitiating strikes at Gold Fields, half of South Africa's gold production could be at stake, or seven percent of the world's mine production.
Wir werden sehen, wie sich der Goldpreis entwickelt.
Diese Meldung bestätigt den obigen Artikel über die schwierige Lage von Harmony.
Harmony verkauft seinen Anteil an Bendigo unter Marktpreis , nachdem es schon im letzten Jahr sich nicht an der Bendigo Kapitalerhöhung beteiligt hatte. Es sieht so aus, als ob weiter internationale Beteiligungen abgestoßen werden, um die widrige Situation in SA überstehen zu können.
Friday April 1, 3:10 PM
Australia's Bendigo On Track Despite Lack Of Harmony
By Stephen Bell
Of DOW JONES NEWSWIRES
PERTH (Dow Jones)--South Africa's Harmony Gold Mining Co. Ltd (HMY) has ended a four-year dabble in Australia's Bendigo Mining Ltd. (BDG.AU) by selling its remaining shareholding for A$32.4 million.
But Bendigo insists that its A$80 million-plus plan to revive the historic Victorian gold field by the middle of next year remains on track.
Harmony's exit was well flagged after it decided not to participate in a A$115 million capital raising last July, said Bendigo managing director Doug Buerger.
"We understand that the Harmony stake has been acquired by more than 10 fund managers in Australia, the U.S. and Europe," he said in a statement to the Australian Stock Exchange.
"These fund managers are now committed to the future of Bendigo and have the financial capacity and willingness to support us," he said, adding that construction of the company's A$53 million gold processing plant is due to begin late next month.
"We continue to forecast the first gold production at a rate of 120,000 ounces per annum by June 2006," Buerger said.
The company will also spend A$30 million-A$40 million this year on underground development, a spokesman told Dow Jones Newswires.
Harmony sold its 29.4 million Bendigo shares - an 11.6% stake - at A$1.10
each, or around 8% below the prevailing market price.
The South African miner bought an initial 31% stake in 2001, paying 17 Australian cents per share, but decided against exercising options that would have delivered it control of the junior gold group.
Bendigo has spent more than a decade trying to breathe new life into its namesake field.
Its early backers included Kerry Packer, one of Australia's richest men, and the late Sir James Goldsmith.
Packer sold out many years ago but the Goldsmith family retains an 8% stake in the company.
Bendigo's biggest shareholder is Singapore-based fund manager APS Asset Management with 16.9%.
Bendigo shares closed down 0.8% at A$1.19, valuing the company at around A$300 million.
-By Stephen Bell, Dow Jones Newswires; 61-8-9245-5120
stephen.bell@dowjones.com
-Edited by Ian Pemberton
Bendigo ist objektiv Schrott (Tiefmine in Australia).
Da entledigt man sich einer Last.
Meine Meinung
gogh
Was denn nun?
Objektiv oder subjektiv ( Deine Meinung) ?
Subjektive,objektive,relative,negative,.......unsw.
ist auch eine meinung ! 
Ach ihr Deutschen ! 
Wollt immer alles ganz genau wissen und machen.
No offence !
XEX
Halten wir mal folgende Kurse von heute fest:
Harmony 7,76 USD
Bendigo Mining 1,19 AUD
Gucken wir dann später einmal nach, ob Gogh im Besitz der objektiven Wahrheit war. 
Ohhh, gleich beruehren sich die linien auf der graph !
Ganz objektiv betrachtet !
Das wollen wir aber festhalten bzw.vermerken ! :))
Ich hoffe nicht das sie fallen, und selbst viagra hilft nicht !
Dann koennten ein paar BOOH schreien und sich einen freuen.
Aber wer zu letzt lacht,... lacht am besten !
Schadenfreude ist auch eine Freude und what goes round comes around !.
Damit habe ich jetzt nicht Ulf gemeint, sondern andere, ihr wisst schon !!
Viele menschen sind wie ein staubsauger oder energy thiefs und saugen fuer wissen, sex, und kohle !
Give and take, otherwise f.. off ! 
Eine Neidgesellschaft habe ich gehoert und gespuert, leider !!......
I'm happy to see the HUI is doing well to hold the 200 line.
I call it a day,an Alan Day !
Das ist naehmlich subjectiv was der macht !
Cheers
XEX
Harmony strike over
Apr 06 2005 08:55:24:847AM
Johannesburg - After protracted negotiations, the strike by the National Union of Mineworkers (NUM) at Harmony's Free State operations would be called off by Wednesday night.
The Harmony gold strike by 21 000 mineworkers in the Free State, which has moved into its second week, drew to a close after the parties have reached an agreement in principle that the issues in dispute had been adequately addressed.
An agreement would be signed later on Wednesday, Harmony's Ferdie Dippenaar said in statement.
"Employees at the original Harmony and Freegold operations would return to work with the night shift on Wednesday, April 6," he added.
The strike which would have lasted eight working days cost the company about 45 000 oz in lost production, equating to about $18m in lost revenue, Dippenaar's statement added.
NUM general-secretary Gwede Mantashe said mine management and union leaders stepped in after local negotiators had reached an impasse.
"We saw it fit to intervene because our experience has taught us that lengthy strikes of this nature have a potential of impairing relationships," Mantashe said.
"We also thought that the negotiations had reached a point where attitudes were hardening on both sides, making it difficult for parties to focus on the real issues", he added.
He said the union leadership and Harmony management had put together a framework agreement on the disputed issues which had led to the strike.
The issues included replacement of deceased employees, short payment, racism, housing, healthcare, and training as well as the mining charter.
Mantashe said both parties had gone through painstaking deliberations in order to arrive at the framework agreement.
welche sollte ich nun kaufen ich muss das sparbuch von oma anlegen?
bitte bitte helft mir
Alles dein risiko und entscheidung !
Wenn du RSA Gold kaufen willst dann wuerde ich sagen HMY.
Konservativer und sicherer ist GFI.
Risiko und man braucht zeit ist DRD.
Up to you !! 
Good luck, cheers
XEX
05. April 2005 Goldminenaktien streben auf einen Punkt zu, an dem sie für langfristig orientierte Anleger wieder interessant werden könnten. Die neue, von der Erholung des amerikanischen Dollar ausgehende Schwäche des Goldpreises drückt auf die Kurse dieser Titel und läßt die Skepsis gegenüber der Branche wachsen. Doch gerade eine solche Stimmung erscheint antizyklisch vorgehenden und damit über den Tag hinausdenkenden Anlegern günstig, das zu kaufen, was die Masse abstoßen will.
Sie wissen aus Erfahrung ?(, daß hochwertige Goldminentitel schon als Schutz vor monetären und politischen Risiken in ein ausgewogenes, langfristig ausgerichtetes Aktienportefeuille gehören, mal in ihrer Eigenschaft als Stabilisator, mal als Turbo für die Gesamtrendite.
Scharfer Einbruch zu Ende
Goldminenaktien hatten im vergangenen Jahr eine große Zeit, als der Index für Gold- und Silberproduzenten der Philadelphia Stock Exchange (XAU) zwischen Anfang Mai und Ende Dezember von 76,79 Punkten auf den Rekord von 111,50 stieg. Zuletzt bewegte er sich bei rund 92 Punkten und damit in einer Art Niemandsland. Der XAU ist der inzwischen am meisten beachtete Index. Er enthält 13 Aktien: Agnico Eagle Mines, Anglogold Ashanti, Barrick Gold, Freeport-McMoRan Copper&Gold, Glamis, Goldcorp, Goldfields, Harmony Gold Mining, Kinross Gold, Meridian Gold, Newmont Mining, Placer Dome sowie Pan American Silver.
Der zurückliegende Run der Anleger auf Goldminenwerte war zu einem guten Teil technisch-zyklischer Natur. Er folgte einem scharfen Einbruch, der sich im März und April 2004 einstellte. Vor der Liquidationswelle waren institutionelle und private Anleger offenbar in Erwartung weiterer steiler Preissteigerungen bei Gold übermäßig stark in dieser Branche engagiert - damit galt der Sektor als „over-owned”.
Erschwerte Analysen
Der Liquidationswelle folgt ein neuer, breit gestreuter Aufbau von Engagements, der im November endete, als wieder in Massen liquidiert wurde. Dieser Prozeß ist dem Urteil von Analysten zufolge inzwischen aber so weit fortgeschritten, daß von einer zu gewichtigen Präsenz der Goldminenaktien in den institutionellen und den privaten Portefeuilles nicht mehr gesprochen werden könne. Folglich mehren sich seitens technisch orientierter Analysten die Empfehlungen, diesem Sektor wieder mehr Beachtung zu schenken.
Ein wesentlicher Grund für die über die Jahre hinweg beobachtete Verlagerung des Interesses von breit gestreuten Indizes für Goldminenaktien wie dem einschlägigen Index der „Financial Times” (All Gold Mines) auf den XAU oder den Goldminenindex der American Stock Exchange (Amex Gold Bugs) ist die bessere Kalkulierbarkeit letzterer. Bei allen anderen, also den regionalen wie südafrikanischen oder australischen, erschweren die Wechselkursveränderungen die Analyse.
Der Währungseffekt
Als einschneidendstes Merkmal gilt, daß die südafrikanischen und die australischen Goldproduzenten wegen der zurückliegenden starken Aufwertung ihrer Landeswährungen gegenüber dem amerikanischen Dollar außerordentlichen Belastungen ausgesetzt sind. Ihre Erlöse verringern sich in der heimischen Währung, während ihre Kosten auf dem jeweiligen Markt steigen. Bei in amerikanischen Dollar rechnenden Minengesellschaften entfällt der Währungseffekt.
Traditionell versuchen Goldproduzenten Phasen niedriger Preise oder geringer Erlöse zu entgehen, indem sie Vorkommen mit möglichst hohem Goldgehalt abbauen. Sind der Preis hoch und die Erlöse zufriedenstellend, gehen sie Vorkommen mit geringem Goldgehalt im gesamten Gestein an. Voraussetzung für eine derart flexible Produktionspolitik ist jedoch, daß ausreichend Vorkommen zur Verfügung stehen, um von Fall zu Fall wählen zu können. Da die Kostenbelastung besonders südafrikanischer Minengesellschaften seit geraumer Zeit sehr hoch ist, mangelt es an finanziellen Mitteln zur Erforschung und Erschließung neuer Vorkommen.
Keine Planungssicherheit
Eine zusätzliche Belastung stellt der sich über Jahre erstreckende Vorlauf für Planung und Entwicklung gegenüber der Produktionsreife neuer Lagerstätten dar. Die Goldminengesellschaften können zu Beginn ihrer Planungsarbeiten nicht wissen, welche Erlöse sie erzielen, wenn die Förderung von Gold aus neuen Bergwerken einsetzt.
Dies hängt auch mit Eigenheiten des Goldmarktes zusammen. So umfassen die bereits physisch vorhandenen Goldmengen unter anderem bei Notenbanken die Goldproduktion von Jahrzehnten. Damit schwebt beständig latentes Angebot über dem Markt, dessen Erscheinen kaum berechenbar ist. Die vielen Unwägbarkeiten und der Kapitalmangel haben schon vor Jahren einen breit gestreuten Prozeß von Fusionen und Übernahmen unter Goldproduzenten in Gang gesetzt, der nicht abgeschlossen ist. Dies verleiht Minenaktien zudem noch Übernahmephantasie.
More mergers and konsolidations are coming ! XEX 
With the juniors !!!!
http://www.321gold.com/editorials/george/george040605.html
Wie, üblich ein exzellenter Artikel. Freue mich auf Teil 2 und bin im Übrigen seiner Meinung.
kauf, wenn die Gewitterwolken den Himmel verdüstern.
Oder wenn die sonne wieder durch die wolken scheint !
morning with Harmony Gold's bosses
By: Gareth Tredway
Posted: '07-APR-05 16:14' GMT © Mineweb 1997-2004
JOHANNESBURG (Mineweb.com) -- In an address to Ernst & Young’s Mergers and Acquisitions 2005 presentation in Johannesburg Thursday, Harmony CEO could not resist the temptation to attack the city’s journalists and media. He was clearly on the defensive and hot under the collar 
as his company’s hostile bid for Gold Fields showed signs of faltering.
He bleated that, as soon as Harmony made its hostile bid for Gold Fields last October, individual journalists took sides with one or other of the companies. Overseas publications, he believed, took a more objective view.
“There is a need for an angle,” said Swanepoel, “Sometimes the truth cannot do.” Of course, it is an open question whether Swanepoel’s views might have been different had the local press been more fawning and had not pointed out the shortcomings of Harmony’s all-paper bid.
Still, Swanepoel went on to point out the new phrases that Gold Fields’ spin-doctors had thought up and “fed” to the press. These included phrases like, ‘cash burn’, ‘value destruction’ and ‘audited reserves’.
The jibe obviously did the trick, because it was all the journalists could talk about after the event.
Besides his issues with the press, Swanepoel also expressed dismay at South African regulations when it comes to mergers and acquisitions.
“South African regulators must review and amend the contradictory rules with the commercial view to harmonise the country’s takeover code and Companies Act to limit unnecessary and costly legal frustrations,” said one slide in Swanepoel’s presentation.
Again, Swanepoel was expressing his frustration at well-established and well-proven regulations that can be tested in court.
Regulators have proved to be the perfect block for Gold Fields’s management in Harmony’s takeover attempt. Courts have listed to arguments in the United States and South Africa, while South Africa’s Securities Regulation Panel and its competition authority have also proved to be stumbling blocks.
A meeting with Ferdi Dippenaar
Directly after the Ernst & Young event, I popped on down to Harmony’s offices in Melrose Arch, a swanky office park in Johannesburg. The meeting had been set up a week earlier during a heated discussion between Dippenaar and Mineweb.
Mineweb asked the Harmony marketing director to comment on certain accusations again made by Harmony naysayers. The latest estimate was that Harmony would ‘burn’ R1.7 billion in the current financial year and was in desperate need for cash.
Dippenaar played it cool 8), which could be seen as commendable in the wake of months of extensive media coverage, a strike by 20,000 miners and unanticipated snags and set-backs in the a hostile takeover bid.
We spent nearly the entire hour talking about the ‘cash burn’ issue, how cold the weather was getting and banter with Bernard Swanepoel as he twice interrupted the meeting to borrow and return a flash drive.
Harmony is currently seeing its greatest cash outflows on three fronts: on bringing new mines and extensions on stream; on funding losses at shafts where the costs of producing an ounce of gold exceed the metal’s price and; on closing these shafts to eliminate operating losses.
In the six months to end-December 2004, Harmony had spent R1.056 billion cash according to the company’s cash flow statements. This cash drain has been going on for more than a year, but Dippenaar reckons it will end soon.
The company has a forecast R897.6 million of capital expenditure (capex) for fiscal 2005 according to the last annual report. R571.6 million of this relates to new project capex.
In the December quarter R237 million was spent on capex, with a further R192 million initially forecast for the March quarter.
On top of this comes restructuring costs at the company’s various loss-making operations, after all the restructuring, which started in April last year, Harmony will have retrenched as many as 15,000 employees.
These operations, which fall in the company’s leveraged-ounces category, made a R101.6 million loss in the December quarter, and these are the shafts where further retrenchments are likely. On the other hand the company’s ‘quality ounces’ generated a cash operating profits of R218.11 million in the quarter.
Harmony is also said to be making losses at 19 of its 28 shafts, but Dippenaar replies that these 19 shafts only make up 13 percent of total group production and that these are the areas being restructured.
In the financial year to end-June 2004, the company spent R224 million restructuring its operations through employment termination and other costs. In the six months to end December, the company has already spent R263 million on retrenchments and restructuring, with more to come. But Dippenaar says this will end by the end of the current year.
Dippenaar confirms that the company still sticks by its claim that by the end of June this year, the year-long restructuring program will be complete, and the cash outflows will be plugged. By that point, he says, cash profits will equal or exceed capital expenditure if current economic conditions prevail.
In theory, by that time, the company will have a negative cash position but it does have about R1.1 billion on the way from the sale of its 20 percent stake in ARM, a diversified mining company. Also, if the worst comes to the worst, it could sell its current 11.5 percent shareholding in Gold Fields.
The March quarter was likely to have been harsh for Harmony Gold, not only is it historically the most brutal on the South African gold mines because of festive breaks, but Harmony just negotiated the end of a strike, which is said to have cost about 45,000 ounces or around R108 million in lost revenue.
On another note, Swanepoel seems to have taken a more pro-active approach to the public relations battle with Gold Fields. On Thursday afternoon individual meetings were being set up for next between him and those pesky Johannesburg journalists.
See RSA thread what Anglo Gold is doing.
Harmony says agreed deal conditions with Norilsk
Fri April 8, 2005 1:28 PM GMT+02:00
JOHANNESBURG (Reuters) - South Africa's Harmony and Russia's Norilsk Nickel have agreed under what circumstances Norilsk would extend an agreement to support a $.4.8 billion hostile bid for Gold Fields, Harmony's CEO said on Friday.
At a meeting last month, Norilsk and Harmony agreed to postpone talks on extending the May 20 expiry date of a deal to tender Norilsk's 20 percent stake in Gold Fields.
"In my interactions with Norilsk, we are very clear on what the circumstances are under which it would make a lot of sense to extend the irrevocable. We can also even agree on under what circumstances they would not either need to or want to extend it," Chief Executive Bernard Swanepoel told Reuters.
"Norilsk is in a good position. They know what Harmony's alternative is and they are awaiting Gold Fields alternative. If Gold Fields doesn't come up with an alternative, then you could argue that Norilsk has a real interest in extending the irrevocable."
http://www.reuters.co.za/local…Key=en_ZA&storyID=8126205
Harmony posaunt, daß es eine Vereinbarung Norilsk über die Verlängerung getroffen habe. Leider wird nichts über die Bedingungen gesagt. Aber selbst nach Swanepoel´s Aussage ist es abhängig davon, ob Gold Fields Norilsk eine brauchbare Alternative bieten kann.
Mal sehen, wie lange es dauert, bis Swanepoels neue Vereinbarung relativiert wird.
Diese ungewissheit kann einen krank machen. 
Wenn man Harmony/GFI schon hat !
Thanks, Ulfur !
Hoffentlich wirst du kaiser vor mir,du hast es auch verdient.
XEX
Nun dauert es schon ein paar Monate, da kommt es auf ein paar mehr oder weniger auch nicht an - oder ? Hauptsache Ende gut - alles gut.
Norilsk may extend Gold Fields expiry date, says Swanepoel
April 11, 2005
Russia's Norilsk Nickel might have a strong interest in extending a key deal to support Harmony's $.4.8 billion (R30 billion) hostile bid for Gold Fields, Bernard Swanepoel, Harmony's chief executive, said on Friday.
Many analysts have written off the possibility that Norilsk, Gold Fields' largest shareholder, would extend the May 20 expiry of a deal to tender its Gold Fields' stake to Harmony.
Without an extension, Harmony's bid is likely to fail since a ruling from competition authorities is not due until roughly mid-May.
But Swanepoel said the situation was more complex than many realised as Norilsk could have many reasons to keep Harmony's bid alive.
This included keeping in play the rivalry between Harmony and Gold Fields, which Swanepoel said had boosted Gold Fields' shares.
"Norilsk is in a good position. They know what Harmony's alternative is and they are awaiting Gold Fields' alternative. If Gold Fields doesn't come up with an alternative, then you could argue that Norilsk has a real interest in extending the irrevocable."
Swanepoel said his recent talks with Norilsk went deeper than previously made known and the two sides had agreed on the conditions under which Norilsk would extend its commitment.
Previously Harmony has merely said that it had agreed during a meeting last month with Norilsk that it was too early to decide on extending the deal.
"In my interactions with Norilsk, we are very clear on what the circumstances are under which it would make a lot of sense to extend the irrevocable."
Those agreed conditions were confidential but if one looked at the bid from Norilsk's perspective, one could understand what might motivate the firm, he added.
For example, if Norilsk effectively let the Harmony bid die, it might worry about returning to a tense relationship with Gold Fields.
When Norilsk first bought its Gold Fields stake, Gold Fields had appointed advisers to defend against possible hostile takeover action from Norilsk and relations had been strained before Harmony's bid appeared, Swanepoel said.
Now Norilsk was probably enjoying being wooed by Gold Fields.
"They're also in a position where for the first time, Gold Fields is treating them with the respect that the biggest shareholder should get.
"Gold Fields is doing a lot of running trying to convince Norilsk there are better proposals. How can you blame Norilsk for that?"
- Reuters
Posted to the web on: 12 April 2005
Wavering Norilsk threatens success of Harmony’s bid
John Fraser
--------------------------------------------------------------------------------
HARMONY CEO Bernard Swanepoel conceded for the first time last night that his bid for rival mining company Gold Fields could fail because of a U-turn by his chief ally, Norilsk Nickel of Russia.
This shows that despite his confidence in October when the hostile takeover offer was launched, the bid may have been doomed from the start.
Norilsk’s support for Harmony was achieved via an irrevocable agreement committing the Russian company’s 20% of Gold Fields to Swanepoel.
Norilsk’s support has been widely seen as being essential to Harmony’s bid, as the Russians hold the largest block of Gold Fields shares.
However, Swanepoel admitted last night that far from being staunch allies of Harmony, “Norilsk has consistently been on the side of Norilsk”.
He said that at the time the irrevocable agreement was signed, Norilsk was being offered a premium of almost 30% on its investment in the all-share bid, in which 1,275 Harmony shares are being offered for each Gold Fields share.
More recently, the ratio between the shares has altered, and Gold Fields shareholders would be able to get more by selling shares on the market than through accepting Swanepoel’s offer.
Swanepoel said another reason for Norilsk’s deal with Harmony was that the Russians had not been fully consulted about plans to list Gold Fields’ offshore assets in Canada — a plan which was rejected by the target company’s shareholders in December.
Swanepoel said that as long as Norilsk’s interests had been aligned with those of Harmony, the Russians had supported Harmony.
However, he said he was aware of efforts by Gold Fields to put together a more attractive offer to Norilsk.
“If an offer from Gold Fields were more to Norilsk’s advantage, I would expect Norilsk to behave rationally,” he said.
He said that the terms of the irrevocable agreement “were clear from day one”.
Norilsk could escape the agreement with Harmony if a substantially better offer were to be forthcoming, and the agreement would expire seven months after the offer was launched, which would be on May 20.
Swanepoel said that he had attempted from the beginning to obtain an eight-month expiry date for the agreement with Norilsk under a worst-case scenario, but this had not been possible.
Swanepoel recently met Norilsk to discuss the Gold Fields issue, and said afterwards that the issue of a possible extension would be raised at a later date.
“Why would they, in the absence of key approval from the Competition Tribunal or a Gold Fields counter-proposal, give me an extension?” said Swanepoel yesterday.
“An extension was not agreed to, nor excluded as a possibility.”
Gold Fields claims that bias had been shown towards Harmony by the competition authorities.
It said if the rules were applied as they should have been, the bid would have expired after 60 days.
“Individuals are being served in their personal capacity, and the ramifications are quite horrific,” said Swanepoel.
“If you take away the regulators, you can’t do deals again. Their purpose is to scare the regulators.”
Swanepoel accused Gold Fields of having applied every legal trick in the book to try to frustrate and delay the approval proceedings.
When asked whether he was optimistic that his bid for Gold Fields would succeed, Swanepoel said that Harmony had 11,5% of Gold Fields shares “and we may have a call option for the 20% (held by) Norilsk.
“This is like starting a game of golf with a favourable handicap, or starting a race half a lap ahead of anyone else.”
Gold Fields’ spokesman Willie Jacobsz said that Norilsk would not sell its shares to Harmony because the offer premium had been eroded and the Harmony offer was now 15% lower than the market price for Gold Fields shares.
