DRDGold Ltd. / DRD (NYSE, JNB) und die Derivate

Von Zwangsverwaltung kann doch gar keine Rede sein. Falls die Gerichte tatsächlich beschließen, daß DRD weiterhin für das Abpumpen verantwortlich sein soll, wird DRD die Rechnung zähneknirschend zahlen. Ein Anlaß für ´ne Zwangsverwaltung ist überhaupt nicht zu sehen.

Vergessen wir nicht, daß der größte Teil der DRD Aktionäre in den USA sitzt. Südafrika muß zumindest den rechtsstaatlichen Anschein wahren und kann nicht wie Putin vorgehen.

Sollten die Richter DRD zwingen, langfristig für die Pumpkosten zu zahlen, wird DRD sich vermutlich aus SA ganz zurückziehen.

Hallo Gogh,

in allen zivilisierten Staaten (ich zähle SA nicht direkt dazu) gilt auch das Grundprinzip von "Treu und Glauben".

Dieses Grundprinzip des verantwortungsbewussten Handelns hat der südafrikanische Staat in Form einer völlig inkompetenten Notenbank gegenüber seiner Exportindustrie massiv verletzt.

Nun gibt es zum ersten Mal wirklich ernste Folgen, indem 6.500 Jobs auf Nimmerwiedersehen verschwinden (oder gibt's einen Interessenten für NW?).

Natürlich kann das Bergamt hingehen und von DRD verlangen, für Anglogolds Gewinne weiterzupumpen.

Ich glaube nicht, dass sie es tun werden.

Gruß

OhneRente

P.S.: Dass die Kursmanipulation von gestern Abend mit massivem Stopp-Loss-Abfischen keine fundamentalen Gründe hatte, darüber sind wir uns doch hoffentlich einig, oder?

Hallo Jungs,

Die am 31.3. erwähnten $0,66 wurden schneller als erwartet erreicht.
Anbei der gleiche aktualisierte chart für euch.

es geht los:
- relativ zum Rand /ZAR) kurz vor Ausbruch
- MACD kurz vor Ausbruch

hoffe für euch, dass der ausbruch nach oben geht!

- Preis und RSI auf starke unterstützung grad.

Glück auf und tschüss!

gogh,

Du vermischst wieder BGML und DRD. BGML ist Eigner und Betreiber der NW-Gruben gewesen, DRD ist 100% Anteilseigner von BGML.

So richtet sich eine Pflicht zur Betreibung eines Bergwerkes nur gegen BGML ,aber nicht gegen den BGMC-Anteilseigner. So hat ja auch noch niemand gefordert, daß DRD von den Behörden gezwungen werden soll, das Bergwerk fortzuführen. Bislang gehts nur um die Pumperei.

DRD kann nur über die von Dir erwähnte Durchgriffshaftung, die schuldhaftes Handeln voraussetzt, zu weiteren Leistungen herangezogen werden. Denn Buffelsfontein ist eine Limited, d.h. die Haftung ist auf die Einlage beschränkt.

Diese Sichtweise von DRD erscheint mir plausiber, als das, was ich bislang von der Gegenseite gehört habe. Wir werden hoffentlich bald vom Ausgang des Angloeilantrages hören. Sollte das Gericht eine einstweilige Verfügung gegen DRD erlassen, wäre dies natürlich ein schlechtes Vorzeichen für den Ausgang eines etwaigen Hauptverfahrens.

So wie es momentan ausschaut ist Droopy ein zaeher Gaul der wieder aufsteht. Bald bin ich wieder ueber meinen alten stop-loss. :))

Gruss

Eldorado

South African Government Issues Directive to DRDGold, Harmony and AngloGold Ashanti

Friday April 15, 12:10 pm ET

JOHANNESBURG, SOUTH AFRICA--(MARKET WIRE)--Apr 15, 2005 -- The South African Department of Water Affairs and Forestry today issued a directive, as an interim measure, ordering three mining groups, DRDGold, Harmony and AngloGold Ashanti (NYSE:AU - News) to share equally the costs of pumping water at a number of shafts at Stilfontein Gold Mine and Buffelsfontein Gold Mines.

The directive follows the launch by AngloGold Ashanti earlier this week of an urgent interdict following the threat by DRDGold that it would cease funding the pumping of water at the shafts after placing its subsidiary Buffelsfontein into liquidation on March 22. DRDGold has been pumping water at Stilfontein under contract for several years. The consequences of a halting of pumping would have been the flooding of several Harmony shafts and AngloGold Ashanti mines in the Vaal River area.

The interdict cited as respondents Stilfontein, DRDGold, various DRDGold subsidiaries and the Ministers of Water Affairs, Minerals and Energy and Environmental Affairs. The purpose was to force the responsible mining companies to continue their pumping activities and the Ministers to take certain actions to ensure that these companies carry out their legal obligations.

It is believed that the costs covered by the directive total some R4.3m per month in total, though this figure is still to be verified.

AngloGold Ashanti is pleased that government accepted that the threat of environmental and economic catastrophe was sufficiently serious that it issued the directive.

We accept the interim arrangement designed to ensure that catastrophe is averted, knowing that the directive is an emergency measure and says nothing about parties' respective legal obligations into the future. However, we continue to maintain that the legal obligation to continue pumping rests with Stilfontein, DRDGold and/or its subsidiaries in liquidation.

The interdict application has been postponed, but will be pursued to completion to enable the court finally to determine legal liabilities and responsibilities. We believe that it would be untenable were a precedent to be set allowing mining companies to walk away from their environmental, health, safety and economic obligations.

We further believe, however, that all parties will have to participate in seeking a long-term solution to the management of underground water in the area. We will be willing participants in this.

Das Amt für Wasser- und Forstwirtschaft hat also ein salomonisches Urteil gesprochen : Alle drei müssen blechen! HAR, Anglo und DRD.

Nun gibt´s vermutlich leider keine Entscheidung des High Court von Joburg über den Eilantrag von Anglo : Durch die behördliche Anweisung gibt es keinen dringenden Handlungbedarf. Aus der Gerichtsentscheidung hätte man ev. ableiten können, wie gut DRD´s juristische Karten sind.

Die Pumpkosten wurden zuerst mit ca 7 Mio Rand (0,88 € ) monatlich angegeben. Nach dieser Meldung betragen die Pumpkosten nur noch 4,3 Mio R ( 0,5 Mio € ).

Für DRD bedeutet dies eine Belastung von 177.000 € im Monat, ein Fünftel des ursprünglich in den Medien angegebenen Betrags.

Mit dieser Zwischenlösung ist Schweinchen Schlau[Blockierte Grafik: http://www.advansign.com/Images/Porky.jpg]
zwar nicht ganz davongekommen, kann damit aber
ganz gut leben.

Dr. Roffey:

My idiot’s award of the week must go to the seller of Durban Deep in the US on Thursday who knocked the price from 86c down to 30c when bullion fell from $628 down to $622. When will these morons realize that the fate of Durban Deep is not a function of the dollar gold price but related to that of the Rand gold price from which the majority of its earnings are generated? As often detailed I am forecasting a Rand price of gold up to R3200 an ounce within the next six months that is well above the break even of R2920 for the Durban Deep group and at least break even for its Northwestern mines.
Aus:
http://news.goldseek.com/GoldAction/1113786008.php

Ulfur

Roffey ist ja ganz optimistisch mit seinen vorraussagen,entweder kracht der rand oder gold steigt enorm. Naechste sitzung der reserve bank wird wieder eine zinskuerzung sein,vermute ich. Wahrscheinlich kommt wieder der boss von NY vorher zu besuch.

Wie schon oft geauessert fuer mich ist da manipulation im spiel und es kann durchaus passieren was er sagt.

Wir werden es ja in sechs monaten sehen ob er recht hat.

Auf alle faelle stinkt das ganze, erst recht der shareprice der ja laecherlich ist.

Naechste Woche gehts in die naechste runde.

Das PPT wird wieder aktiv sein,das steht fest.

Last men standing !

Mfg

Eldorado

Koennte es nicht sein, dass die 33 cent die wir Donnerstag Nacht in NY sahen die Ausuebung eines Calls war?

Gruss und Dank an alle die Informationen zu Drooy zusammentragen.

On Thursday the 14th of April, we had what appears to be a fairly classic case of capitulation. DROOPY plummeted from $.80 to an intraday low of $.30 before closing at $.66, down $.14 for the day. When shareholders get fed up and throw in the towel, that's a bottom.

Das Hippo spricht!

über das böse Blut mit MWW

[Blockierte Grafik: http://www.miningmx.com/cm_pics/wts/1562-0-0-0_204355.jpg]

Roger Kebble responds
Roger Kebble
Posted: Mon, 18 Apr 2005
[miningmx.com] -- Attention: David McKay
Editor: Miningmx

07 April 2005

Dear David

Thank you for agreeing to grant me the right to reply to your article – “Bad Blood Rising – 04 April”. While I found the tone of the article negative and destructive, it does however serve to highlight that from DRDGOLD’s perspective at least, the issues are vexed and that the company is finding it difficult to let go.

Had you spoken to me prior to publishing your article, I would have told you that there are indeed very good reasons why I would have every reason not to want to settle with DRDGOLD and Mark Wellesley Wood. I would however also have told you that there are even better reasons for us to settle our differences, such as making a meaningful contribution to ensuring a viable future for the South African gold mining industry.

I am reluctant to revisit old grievances, but since you brought them up, I have no choice but to clarify some issues.

It is true that all of us in the executive team were initially impressed by Mark’s abilities when he was recommended to us in 1999 and that we felt he could add value at certain levels. While it soon became very clear that status and money were important to him , we did not realize the lengths he would go to in order to entrench his position in the company.

Given his relentless quest to wrest control of the company, hostilities were inevitable and he steered a collision course very early on in our relationship. You refer, for instance, to the infamous work-permit issue. It still amazes me that having failed to adhere to the basic work permit requirements of the Department of Home Affairs; Mark pointed the finger in my direction when he was caught out. Of far more interest, in my view, is that he managed to resolve the situation by enlisting the help of Baroness Margaret Thatcher, who in turn persuaded the then Minister of Home Affairs, Chief Mangosuthu Buthelezi (who had previously received support from Mrs Thatcher’s government) to waive the rules for him.

I can only think that it was at that point that he became paranoid about staff loyalty and began instituting questionable surveillance techniques to monitor key staff members, a practice that resulted in much public bitterness and recriminations. Of course, Mark was no stranger to covert activities, having also employed the services of Associated Intelligent Networks (AIN), headed by one Warren Goldblatt. My views on this organization are well documented and AIN’s actions are now the subject of legal action. Suffice to say that the two members of the South African Police (SAPS) who were bribed to effect my arrest in November 2000, are now working for AIN.

These issues are due to be ventilated in a court hearing set for July 27 this year, in respect of which the Constitutional Court has given myself and others wronged by his actions the right to claim punitive damages from Mark and his agents.

We have very good reasons to pursue Mark for what he has done because, as you rightly say David, he has caused us great harm and as a result we have very substantial claims against him, his agents, co-directors and DRDGOLD itself.

Some of these claims revolve around a trumped up fraud case motivated by Mark which was thrown out by the courts, but not before I had been subjected to two years of harassment.

It is abundantly clear that the State was misled by a prosecution docket that had been created by Mark and his agents.

As a result of Mark’s behaviour I have had to endure substantial humiliation in the market place and elsewhere, a fact which is particularly galling in light of the fact that it was me and my team who built DRDGOLD into an asset worth fighting over in the first place.

Equally irksome is Mark’s persistent attempt to view the Rawas transaction as something sinister. No discussion on Rawas would be complete without it being pointed out that the acquisition of Rawas took place as part of the same strategy that saw DRD acquire Tolukuma Mine in Papua New Guinea which has been extremely successful and is, by common cause, one of the most lucrative assets in the DRDGOLD portfolio. What Mark fails to acknowledge is that the acquisition of Rawas in Indonesia, Hargreaves Mine in Australia and Tolukuma was part of a cohesive strategy. Hargreaves was intended to fund the exploration of Rawas, and, had it not been for the catastrophic flooding which subsequently closed Hargreaves, I have no doubt that we would have been able to conduct a successful exploration of the extensive deposits that lie there.

Two years ago, when the cracks in the local DRDGOLD operations began to show, the National Union of Mineworkers (NUM) called upon Mark and his team to either institute a turn-around strategy, or sell the assets to someone who could. It was at this point that he was offered R1 for the North West division. Had he accepted, he would have saved himself and his shareholders in excess of R240 million and the liquidators would not now be sifting through the wreckage.

While all of the above provide very good reasons why I should bear a grudge, one can’t ignore the fact that the mining industry is on the verge of additional calamities and for this reason we are duty bound to at least try and resolve our differences.I have offered to, and am still prepared to, negotiate a constructive settlement with DRDGOLD that will focus on a solution for all of DRDGOLD’s local operations.I can’t emphasize strongly enough that DRDGOLD’s assets were put together as a unit to be sustainable and therefore should be sold as a whole to allow future sustainability. The mixed messages coming out of the DRDGOLD camp are cause for concern for anyone who cares about the South African gold mining industry. There is, for example, no need for Blyvoor’s ore reserves to be consumed at four times the rate it’s being developed. This practice of high grading means that Blyvoor’s life will be shortened and is thus unsustainable. Ian Murray’s comments (Miningmx – April 6) confirm my suspicions that DRDGOLD is preparing itself to get rid of its SA assets, and move “up” the value chain. After all, why would DRDGOLD want to keep the SA assets in such circumstances?

I find it interesting that you dismiss my attempts to negotiate in good faith with Mark. I can understand that having deliberately set out to mislead the market by vilifying me and everything associated with me, Mark may fear a loss of credibility if he sells back to me. Mark may have his shortcomings , but he is no fool. He is well aware that we have the operational expertise to salvage what’s left of the assets.

If, after all that has transpired between us, I am able to see beyond our personal differences, then there is no reason why he shouldn’t as well.

Yours sincerely

Roger Kebble
CHAIRMAN: SIMMER & JACK MINES LIMITED

Das Hippo bestätigt: Schweinchen Schlau is no fool !

Hallo gogh,

"There is, for example, no need for Blyvoor’s ore reserves to be consumed at four times the rate it’s being developed."

Nunja, sieht man mal von dem Zwang ab, die Pleite zu verhindern...

Das Hippo schäumt es ist sehr sauer
Denn Schweinchen Schlau war diesmal schlauer
Das Hippo prallte ab von Schweinchens Wand
Kein Nordwest für einen Rand

Die passende Bebilderung hast Du sicherlich in bewährter Manier parat

Gruß

OhneRente

Schweinchen Schlau muß die Wände seines Steinhauses sehr stabil gebaut haben, daß sie sogar dem Angriff des Hippos trotzen.

Ja da kommt freude auf !