[Blockierte Grafik: http://images.amazon.com/images/P/6305308748.01.LZZZZZZZ.jpg]
In der Hauptrolle: Mark Wellesley-Wood
Gerade gestern überlegte ich, mich bei Droopy wieder umzuorientieren. Goldpreis im ersten Quartal dauerhaft über der Gewinnschwelle des 2.Hjs 05, inzwischen mehr als 100 $ drüber: Gewinne erscheinen selbst für Droopy unvermeidlich zu sein.
Aber wenn Du meinst, es geht nicht mehr, kommt irgendwo ein Lichtlein her!
ZitatTHE temporary closure of the gold mine at Vatukoula in Fiji .... would not affect DRDGOLD as the mine was quite small within the group and has been making losses...
Wenn man jede loss-making Mine bei DRD geschlossen hätte 
Inspektor Closeau lt. Zeitungsartikel vom 28.10.2005:
Wellesley-Wood announced yesterday that he would be spending more time in to Australia in order to devote a greater portion of his time to the Australasian interests, and the struggling Emperor mine in particular.
...
Still, Wellesley-Wood cautioned that he doesn't expect to see significant signs of turnaround at the Australasian operations before June next year.
http://www.miningweekly.co.za/?show=76611
Ein halbes Jahr später wird Fidschi geschlossen, die Wiederaufnahme der vollen Produktion soll erst nach weitern 6 Monaten erfolgen.
Mit anderen Worten, die bisherigen Restrukturierungsmaßnahmen waren nicht durchschlagend, so daß nach einem Zeitverlust von einem halben Jahr radikale Maßnahmen erfolgen. Die angekündigten "significant signs of turnaround" wird man für die Fidschimine auch im Junibericht nicht entdecken können, es sei denn durch die Stillegung selbst.
Das hier ist der wahre Reichmacher-Sräd.
Ich vertraue meinem financial adviser MWW.
Das ist ein ganz Ausgefuchster.
[Blockierte Grafik: http://perso.wanadoo.fr/art-deco.france/IMAGES/comic_Sellers.jpg]
Boarding Time bei Roodepoort Rocket!
Gefahr, daß Droopy Gewinn ausweist, immer größer!
Advantage Asset Management deputy MD Wayne McCurrie said on Friday that, in the December quarter, the average rand gold price was R3,100/oz compared with R3,400/oz in the first quarter of this year. With costs relatively stable between the two quarters, this could translate into an average 20% rise in profits for gold miners, assuming production was maintained.
A second analyst, who asked not to be named, said DRDGOLD’s reported production and profits would also benefit from an internal reorganisation. From December 1, 100% of production from ERPM and Crown Mines was attributable to DRDGOLD, which means DRD-GOLD would report the higher percentage ownership for a full three months in the March quarter.
However, there was a strike at DRDGOLD’s 20%-held Porgera mine in Papua New Guinea during January, which was expected to have affected production, he said.
Outlook Shiny as Mine Reporting Starts
http://www.resourceinvestor.com/pebble.asp?relid=19077
South Africa: DRDGOLD Lets Go of Australasian Listings
Business Day (Johannesburg)
April 24, 2006
Posted to the web April 24, 2006
Charlotte Mathews
Johannesburg
GOLD miner DRDGOLD will delist from the Australian and Port Moresby stock exchanges after completing the reorganisation of its Australasian operations.
It recently transferred its 20% of the Porgera Mine and 100% of Tolukuma in Papua New Guinea into Australian Stock Exchange (ASX)-listed Emperor Mines and increased its stake in Emperor to 88,3%. Emperor has also put in place a A$42m debt facility with the Australia and New Zealand Banking Group.
CE Mark Wellesley-Wood said the delisting from the Australian exchange made sense because, after the reorganisation, DRDGOLD had no direct operational presence in Australasia. Its shares are little traded in Australia.
DRDGOLD strategic development officer Ilja Graulich said the firm did not intend to delist Emperor because Emperor needed access to capital markets for its expansion in Australasia.
Holders of DRDGOLD's ASX-listed shares will be given a three month period in which to sell them through a share sale facility or transfer their shareholding to the South African register, with the costs to be paid by DRDGOLD.
http://allafrica.com/stories/200604240875.html
linar 
Neue Besen kehren gut ??
Emperor Mines Limited is pleased to announce the appointment of Brad Gordon as an Executive Director and Chief Executive Officer.
The appointment follows the recent finalisation of Emperor’s US$237 million acquisition of DRDGOLD’s Papua New Guinea (PNG) assets, comprising a 20% interest in the Porgera Joint Venture (Porgera), a 100% interest in the Tolukuma Gold Mine, and all of DRDGOLD’s exploration tenements in the country. Combined with Emperor’s continuing operations at Vatukoula Gold Mine in Fiji, Emperor is now one of the largest gold producing companies listed in the Australian Stock Exchange.
Volle Meldung:
Produktion von Emperor, also Vatukoula,
um 15% zurückgegangen.
Cash Cost
Von 762 A$ auf 918 A$, ca 695 US$ gestiegen [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000116.gif]
Total Cost
Von 862 A$ auf 1029 A$, ca 778 USD gestiegen [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif]
Würdige Abschiedsvorstellung der alten PEM [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif]
(Im nächsten Quartal werden Porgera und Tokuluma zahlenmäßig integiert sein.)
MWW im Oktober 2005:
Still, Wellesley-Wood cautioned that he doesn't expect to see significant signs of turnaround at the Australasian operations before June next year.
MWW hat sein Versprechen bislang gehalten. Auch bis zum März ist noch keine Verbesserung zu erkennen, bei Vatukoula gehts weiter bergab.
Können die wohl wegen labour unions und Gesetzgebung die Minen nicht stilllegen?? Denn so bedeppert kann doch wohl niemand sein, mit solchen Velusten einfach weiter zu wursteln??
Vatukoula ist am 20.April immerhin für 2-6 Monate geschlossen worden. Kein Wunder bei den üblen Zahlen.
Nach den gestrigen EMP-Zahlen, folgen nun die Zahlen der Mutti.
Die erste Gurke hat das Schiff verlassen - Supi
Wann findet endlich das Kielholen von MWW statt?
Ncholo verläßt DRD, nachdem Afrikaplan steckenbleibt
Ncholo quits DRDGOLD as Africa plan stalls
Brendan Ryan
Posted: Fri, 28 Apr 2006
[miningmx.com] -- DRDGOLD shares have under-performed badly in the current gold bull market and some obvious reasons are to be found in the poor set of March quarter production results released April 28.
Not only has there been a string of poor operating performances at mines in both South Africa and Australasia, but the haemorrhage of long-serving, senior executives also continues.
The latest to jump ship is Paseka Ncholo who heads up DRDGOLD’s Black Economic Empowerment (BEE) partner Khumo Bathong. Ncholo follows in the footsteps of former financial director and CEO Ian Murray who left DRDGOLD in November last year and is now resident in Perth, Western Australia.
Ncholo was the executive chairman of DRDGOLD South Africa (DRDSA) and he was the executive tasked to head up DRDGOLD’s diversification strategy moving into the rest of Africa.
DRDGOLD CEO, Mark Wellesley-Wood, points out Ncholo remains a non-executive director of DRDSA representing the interests of the Khumo Gold SPV (special purpose vehicle). He describes Ncholo’s departure as "a blow" and says Ncholo left because of increasing demands on his time from other businesses commitments.
Niel Pretorius as been appointed as acting CEO while a job search is carried out to find a replacement for Ncholo.
Wellesley-Wood says the planned diversification into Africa has not being going as well as planned [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif] and it’s something he intends tackling as a priority - just as soon as he has the Emperor Mines situation bedded down in Australia.
The March numbers show sharp cost increases at mines in both South Africa and Australasia and, in particular, a worrying trend of problems with local communities having severe impacts on operations in Papua New Guinea (PNG).
According to Steve Shepherd, an analyst at JP Morgan, the operational results were “... the worst DRDGOLD overall operating performance we can recall having analysed. [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000116.gif] Forecasting risk is extremely high”.
“It must be said though, that we think this set of numbers should reflect the group’s nadir (Tiefstpunkt),” Shepherd said.
The Tolukuma mine lost ten days of production because of action taken by landowners to block the hydro pipeline. The mine has previously had problems resulting from sabotage of its facilities by local villagers.
Wellesley-Wood says the Porgera mine - in which DRDGOLD has a 20% stake - lost seven days of production after power pylons were blown up.
Operations at both mines were also badly affected by the unusually heavy rains which have been hitting most of South East Asia since the beginning of the year.
Wellesley-Wood reckons the main impact on DRDGOLD’s results comes from the problems at Porgera which is now run by Barrick following its takeover of Placer Dome. DRDGOLD has no input into the management of Porgera.
Porgera is battling to counter the impact of last year’s collapse of part of the open pit wall. The March numbers show a 26% drop in gold output from the December quarter and an accompanying, horrific 58% jump in cash operating costs to $455/oz from $288/oz previously. [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif]
Back in South Africa, forecast problems at Blyvoor turned out to be worse than expected [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif] as the move of mining operations away from areas of dangerously high seismicity promptly ran into the Alpha Dyke earlier than anticipated. That negatively affected production.
Underground grade plunged 26% to 4,59g/t (previous quarter - 6,18g/t) while cash operating costs were 15% higher at R109,914/kg (R95,564/kg).
The only good news came from ERPM where both production and grade from underground sources is rising with the result that cash operating costs dropped 5% to R98,045/kg (R103,518/kg).
The DRDGOLD share price hit a 12-month peak of 1210c in mid-January at a time when the gold price then sat at record levels around R110,000/kg.
At current, higher record levels around R123,000/kg the DRDGOLD share price has dropped to around 940c which is 22% down on the January high. That’s a strange situation given the way DRDGOLD has performed in prior bull markets.It’s difficult to believe this company was once known as the "Roodepoort Rocket." [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif]
Wellesley Wood reckons part of the reason is that the market is not seeing the value in DRDGOLD’s Australasian assets which are now held through ASX- listed Emperor Mines in which DRDGOLD has an 88% stake.
Emperor shares went up 20% on the ASX today after release of the latest, high-grade exploration results from the Tolukuma mine. DRDGOLD shares did not respond.
Wellesley-Wood comments: "On current share prices Emperor accounts for about 85% of DRDGOLD’s market cap and we’ve got $30m in cash which means that the SA operations are being thrown in for nothing in terms of the current DRDGOLD share price."
One way of tackling that value problem is the possible split of DRDGOLD into a separate, listed African and Australian operations.
http://www.miningmx.com/gold_silver/274059.htm
.
Trotz erzielten Goldpreises von über 560 USD weiterhin rote Zahlen.
Cast Operating Costs
Australasien
Vom Vorquartal 341US$ auf 514 $ gestiegen [Blockierte Grafik: http://img386.imageshack.us/img386/2363/happy8km.gif]
Südafrika
Von 463 $ im Vorquartal auf 511$ gestiegen [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif]
Cash Kosten in SA sogar besser als in Australasien !
Gesamt
Von 406$ im Dezemberquartal auf 512 $ gestiegen [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif]
Die Marge zum erzielten Goldpreis von 561 USD dürfte leider zu klein sein, um einen erneuten Verlust zu vermeiden.
[Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif] [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif] [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif]
Probleme plagen Goldminen
Problems plague gold mines
By: Jim Jones
Posted: '28-APR-06 08:00' GMT © Mineweb 1997-2004
JOHANNESBURG (Mineweb.com) -- DRDGOLD is finding that shifting the locus of its operations from its ageing South African mines to the wilds of Fiji and Papua New Guinea is no bed of roses. During this year’s March quarter gold production of 129,657 ounces registered a decline on the December quarter’s 130,257 ounces. But the overall figures hide a multitude of sins.
In South Africa, overall production increased to 86,678 ounces from December’s 71,407 ounces. Those in the Pacific or Australasian area dropped to 42,979 ounces from the preceding quarter’s 58,850 ounces. And even these globular figures conceal some wide fluctuations at individual mines.
In South Africa, where the Blyvooruitzicht mine is the great white hope following the abrupt closure of operations at the North West mines, production tumbled to 25,238 ounces from the December period’s 30,190 ounces. There were perfectly good reasons attributed to the fall by management – geological rather than managerial 
as underground operations were affected by seismicity as well as by lower grades and the earlier-than-expected intersection of a barren underground dyke. It will be recalled that seismicity or, at least, a serious example of it led to the mine closures in North West province.
So, the South African production increase was largely based on the veteran ERPM mine and to a lesser extent on the Crown dump reprocessing operations.
In the process, South African operating costs barrelled ahead to $511/oz or R103,159/kg from the December quarter’s $463/oz or R97,532/kg. Of course, this was a better performance than that of the Pacific Ocean mines. [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif] These latter notched up a spectacular cost increase to $514/oz from $314/oz.
Again, the poor performance of the Pacific area mines was not management’s fault. At the Porgera mine there was a planned reduction in milling, but operations were also hit by strikes, sabotage of electric pylons and the disruption of fuel supplies when a bridge was washed away. [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif]
In Fiji Emperor’s Vatoukula mine was clobbered by water inflows and poor ground conditions.
And at the Tolukuma mine operations were disrupted by losses of hydro-power, flooding and delays in the delivery of new pumping equipment.
CE Mark Wellesley Wood has given no indication as to when the problems will be completely resolved [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif], though his report for the quarter provides some grounds for optimism [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif] as or when the various exploration activities outside South Africa bear fruit.
[Blockierte Grafik: http://www.tabaluga.com/dvg/charaktere/images/pechvogel.gif]
Full details of the quarter’s operations can be found on the company’s website http://www.drdgold.com
http://www.mineweb.net/sections/gold_silver/273973.htm
SA miners to report highest gold price ever
JOHANNESBURG (Mineweb.com) -- South Africa’s gold miners will probably have achieved their highest quarterly gold price ever in the three months to March, when the companies start to report those numbers at the end of April.
...
In a nutshell, shareholders and, of course, management are sitting a lot prettier than they were a year ago, when prices were much, much lower.
...
Some of South Africa’s largest gold mines have experienced South African cash costs increases of 30% and higher since the first quarter of 2002.
An extreme example is the first quarter results put out on Friday by DRDGold, South Africa’s fourth largest gold producer. The company’s South African costs have ballooned over the last few years. On Friday an average cost figure of R103,519/kg was released for the first quarter, 6% higher than the previous quarter. Its Blyvooruitzicht mine produced at R109,914/kg in the quarter, compared to a year ago when cash costs were R81,606/kg. That is an increase of 35% in 12 months and perhaps underscores top management’s lack of focus on the company’s South African operations..
Not surprising again that DRDGold shares, at R9.35 are way off their sale price of R41.21 each in a capital raising performed in May 2002.
Aus
http://www.mineweb.net/sections/gold_silver/280122.htm
Oder wie Hamilton es vor Jahren noch sah:
“Durban is a world-class, lightly-hedged, highly-leveraged major gold mining company that is strategically positioned to reap legendary gains in a major new bull market in gold.”
Criticism justified but we have answers
- Ilja Graulich, DRDGOLD
http://www.miningmx.com/radio/
[Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif] [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif] [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif]
Gogh, Ulfur, statt rumzustänkern solltet ihr mal etwas nachforschen.
DRDGOld ist doch Schrott in euren Augen? Simmer & Jack kann mit einem Mal Gewinne machen wo DRDGold versagt hat?
Dann schaut euch Aberdeen International an (http://www.aberdeeninternational.ca oder so ähnlich). C$18.5 mio market cap und eine Royalty auf Simmer & Jack, bei derzeitiger Produktion (144,000, $666 Goldpreis) ca. C$4mio cash flow.
M.E. das einzige vernünftige Investment in SA.
Gruß
S.
Es wäre wohl keine große Überraschung, wenn Simmers dort Erfolg hat, wo DRD versagt hat. Aber warten wir die Simmerszahlen ab, dann läßt sich die Entwicklung besser sehen.
Leider hat Simmers die BEE-Parasiten am Hals. Gut möglich, daß die bisherigen Direktoren unterliegen und Vulisango das Ruder übernimmt. Da würde auch ich Abstand halten.
Aberdeen werde ich mal anschauen, danke.
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Heute wieder das übliche Tradingmuster:
Goldpreis: UP!
Droopy: DOWN!
