Beiträge von gogh

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gogh

Media Releases
DRD PROFIT UP 35%
28 April 2004

340/04-jmd

Production steady, costs fall

Johannesburg, South Africa, 28.04.04. Durban Roodepoort Deep, Limited (JSE: DUR; NASDAQ: DROOY; ASX: DRD) has reported a 35% increase in cash operating profit to US$19.1 million (38% in Rand terms to R130.4 million) for the quarter ended 31 March 2004.

This reflects steady production of 240 758 ounces, a 3.6% drop in unit cash operating costs to US$318 per ounce (a 3.4% drop in Rand terms to R69 329 per kilogram) and a 2.5% increase in the average US Dollar gold price received to US$406 per ounce (a 3% increase in the average Rand gold price received to (R88 577 per kilogram).

Executive Chairman Mark Wellesley-Wood said today (28.04.04) that the recording of continued growth in the face of a flat gold price and strong Rand, combined with a focused acquisition strategy, shows there is scope for adding further value to a mature asset portfolio.

“Our balance of margin on current ounces of production and leverage on increasing reserve life has now been established; while a weakening of the South African Rand would be helpful for the margin, we believe this is no longer a pre-requisite for sustaining our gold production.”

Profit before tax increased to US$10.7 million from breakeven in the previous quarter and basic profit per share rose to 4.2 US cents. Stockholders’ equity rose to US$135.7 million (R861.6 million).

With the current ratio at 1.09 and the interest-bearing debt (including the convertible bond) to stockholders’ equity down to 52% from 82% in the previous quarter, the company’s balance sheet continues to improve, Wellesley-Wood said.

Cash and cash equivalents doubled from US$21.9 million (R145.4 million) to US$47.9 million (R304.4 million). Net cash inflow from operating activities after changes in working capital was US$21.8 million (R147.9 million) compared to US$1.5 million (R10.1 million) in the previous quarter.

South African operations

While production at the South African operations was 144 775 ounces compared with 145 677 ounces in the previous quarter, average cash operating costs were lower at US$373 per ounce (US$376 per ounce) or R81 398 per kilogram (R81 697 per kilogram) Cash operating profit doubled to US$4.6 million (US$2.3 million) or R32.0 million (R15.4 million).

The North West Operations returned to profitability for the first time since the December 2002 quarter. Cash operating profit was US$4.3 million or R28.9 million compared with the previous quarter’s cash operating loss of US$0.5 million or R3.9 million). Gold production has been sustained at more than 900 kilograms (28 900 ounces) per month and average cash operating costs were US$357 per ounce or R77 859 per kilogram.

Blyvooruitzicht reported a decline in profit due to a reduction in grade and a slow start-up during the commissioning phase of the slimes dam project. The grade profile has been corrected through the implementation of various operational initiatives, including a groundbreaking rock drill operators’ incentive scheme. The re-balancing of the slimes dam project has been completed, with gold output expected to reach full capacity by the end of the current quarter. Average cash operating costs were US$398 per ounce (R86 855 per kilogram)

Australasian operations

The Australasian operations (excluding the 19.78% share of Emperor Mines Limited) produced 73 014 ounces, or just under one-third of DRD’s total production for the quarter. Average cash operating costs were lower at US$208 per ounce (US$232 per ounce) or R45 400 per kilogram (R50 460 per kilogram). Cash operating profit rose by 23% to US$14.5 million (R98.4 million).

Tolukuma continued to deliver outstanding results, with production in excess of 7 000 ounces per month for 13 consecutive months. Production for the quarter was marginally lower at 21 509 ounces (21 767 ounces). Cash operating costs were US$254 per ounce (R55 348 per kilogram). There has been a dramatic increase in exploration activity. A further outcrop of the Zine vein has been identified, containing a resource of nearly 50 000 ounces. Capital expenditure of US$1.2 million was spent on mobile plant and equipment, the Milaihamba project and exploration.

The Porgera Joint Venture continued to deliver strong results, with a 12% increase in gold production to 51 505 ounces. Porgera was DRD’s lowest-cost producer for the quarter, with unit cash operating costs down by 15% to US$189 per ounce (R41 245 per kilogram). The offer to sell 25% of DRD’s 20% stake in the Porgera Joint Venture to the community-based Mineral Resources Enga (MRE), the local landowners, will not proceed, after a number of conditions precedent for the transaction were not fulfilled.

Crown/ERPM Joint Venture

DRD has a 40% interest in the Crown/ERPM Joint Venture, and manages and operates them on behalf of the shareholders. Attributable production was slightly lower at 22 969 ounces (23 727 ounces). Unit cash operating costs were US$385 per ounce (R83 994 per kilogram). Capital expenditure for the quarter of US$4.9 million (R33.4 million) – primarily funded by a loan from the Industrial Development Corporation – was directed towards ERPM’s Cason Dump reclamation project and the new pumping facility at the Far East Vertical shaft. On 23 April, Crown Gold Recoveries, the holding company of Crown and ERPM, announced that it was reassessing the viability of ERPM’s underground operations, primarily as a result of the impact of the strong Rand.

“We have now recorded two quarters in succession of profitable growth; this, and in particular record margins of 28% in the quarter under review, position us very well for the future,” Wellesley-Wood concluded.

Queries:

South Africa
Investor and Media Relations
Ilja Graulich, Durban Roodepoort Deep, Limited
+27 11 381 7826 (office)
+27 83 604 0820 (mobile)

James Duncan, Russell & Associates
+27 11 880 3924 (office)
+27 82 892 8052 (mobile)

gogh

also das "konservative Depot" hat es mir angetan.

Das ist so ziemlich der heißeste Rreifen, den man

fahren kann.

Meine Bitte, dranbleiben. Wir können alle

nur dazulernen.


gogh

post scriptum:

Western Areas ist dazugekommen. In meinen Augen

der Outperformer in dem Depot.


Was mit Silber zu tuen hat, wird sich durch die Stop Loss Kurse

in Luft auflösen.


Wir werden sehen.

Stop Loss in meinem Depot 0,00 für jeden Wert.

Stop loss ist die Diversifkation auf viele Werte.

Begründung s. o.: Warren



gogh

Warum sind Kaffeeebohnen konservativ?
=========================


Antwort:

Weil die Kaffebohnen steigen, sollte der Goldpreis fallen.


Im Ernst, ein konservatives Depot sollte so ausgerichtet

sein, daß man gegen den Wind kreuzen kann.


Z. B. würde eine akute Wirtschaftskrise den Goldpreis

hochtreiben. Dafür würden die Basismetalle wegen

Produktionskürzung weniger nachgefragt.

Und umgekehrt.


Oder ist es so gut wie sicher, daß es in Brasilien Nachtfröste geben

wird, die die Kaffeeplantagen schädigen?


gogh

der Artikel beschreibt die aktuellen Auswirkungen des starken Rand auf Südafrikan.-GM,
es geht darin nicht nur um Goldfields
===========================================

Gold Fields strike on the cards over job cut plans
April 26, 2004

By Bloomberg

Johannesburg - Gold Fields, the world's fourth-biggest gold producer, might face a strike at Africa's biggest gold mine and another of its local operations over plans to cut costs, a labour union said at the weekend.

The company planned to cut jobs at Driefontein, which produced about 1.1 million ounces of gold a year and employs 16 000 people; and at Beatrix, which employed 5 000, the National Union of Mineworkers (NUM) said. Gold Fields said it was seeking ways to cut costs.

Willie Jacobsz, a Gold Fields spokesperson, said: "We are not planning mass retrenchments." The company was talking to the union at the two mines about ways to cut expenditure, he said.

The profits of South African gold producers have been slashed by the rand's 76 percent gain against the dollar since 2001, as they pay most costs in local currency while selling their metal for dollars.

Labour accounts for half of the costs of South African gold producers.

The talks on cost cutting follow an announcement by Harmony Gold Mining this month that it might close six of its local mine shafts employing a total of 5 000 people.

Durban Roodepoort Deep fired 3 000 workers in October and said on Friday it might reduce output at its East Rand Proprietary Mines associate.

Afrikander Lease closed its only mine in December.

Elias Mulaudzi, the branch chairman for the NUM at Driefontein, said: "A strike is definitely on the cards."

The NUM is also in talks with the Commission for Conciliation, Mediation and Arbitration over whether it can call a national strike to protest against job losses caused by the rand's appreciation.

South Africa has an unemployment rate of 28.2 percent, the highest among 54 countries monitored by Bloomberg.

Gold mining employs about 200 000 people in the country.

Shares in Gold Fields fell 1 percent to R73.35 in Johannesburg on Friday, while the gold mining sector fell 0.75 percent.



gogh

alle aufgeführten Austral-Minen werden in D gehandelt.


Die D-Kurse weichen aber oft etwas von den Sydney-Kursen ab,

ohne daß da ein System erkennbar ist.

Deshalb sind die Sydney-Kurse besser vergleichbar.

Man sollte aber versuchen in D zu handeln, weil Transaktionen

nach Sydney recht teuer sind.


Man kann zusätzlich

Croesus CRS

und

Dominion DOM

nennen.

Hab´die aber nicht aufgelistet, weil ich im

Moment zu CRS u. DOM keine Meinung habe.

Die scheinen billig. Vielleicht gibt es dafür

doch einen Grund.

gogh

Source: IAMGOLD; Wheaton River Minerals Ltd.

IAMGOLD and Wheaton River complete due diligence and sign definitive
============================================
agreement
=======

Monday April 26, 6:01 am ET

TORONTO and VANCOUVER, April 26 /PRNewswire-FirstCall/ - IAMGOLD Corporation ("IAMGOLD") (TSX:IMG, AMEX:IAG) and Wheaton River Minerals Ltd. ("Wheaton River") (TSX:WRM, AMEX:WHT) are pleased to announce that they have satisfactorily completed their due diligence, have received final fairness opinions from their financial advisors and have signed a definitive agreement to combine the two companies.

Having reached a definitive agreement, the companies expect to mail their respective information circulars to shareholders in early May in advance of the shareholder meetings scheduled for both IAMGOLD and Wheaton River on June 8, 2004. The combination must be approved by at least two-thirds of the votes cast by the shareholders of Wheaton and by a majority of the votes cast by the shareholders of IAMGOLD. The boards of the two companies unanimously recommend that their shareholders vote in favour of the proposed transaction.

Joseph Conway, President and CEO of IAMGOLD commented on the signing of the definitive agreement stating: "Having reached a definitive agreement we now look forward to the IAMGOLD and Wheaton River shareholder meetings in early June. Following these meetings we can combine the management talents of IAMGOLD and Wheaton River to move the new company to its next level." Ian Telfer, Chairman and CEO of Wheaton River, stated: "We are pleased that the transaction is proceeding smoothly and look forward to the closing in early June."

On March 30, 2004, IAMGOLD and Wheaton River announced a proposed business combination to be completed by way of a Plan of Arrangement which would create one of the world's ten largest gold producers. Under the terms of the proposed transaction each Wheaton River common share will be exchanged for 0.55 of an IAMGOLD common share. All outstanding warrants of Wheaton River will be exercisable on similar share exchange terms as offered by IAMGOLD for Wheaton River's common shares (for example 100 Wheaton River warrants with a C$1.65 strike price expiring on May 30, 2007 would be exercisable for 55 IAMGOLD common shares and would expire on May 30, 2007at an effective strike price of C$3.00 per IAMGOLD share). The common shares of the new company will continue to trade on the Toronto Stock Exchange and the American Stock Exchange. Prior to closing the newly combined company will be renamed.

Summary of the New Company

Management of the new company will be led by a team consisting of Joseph Conway as President and Chief Executive Officer, Ian Telfer as Executive Co- Chairman and William Pugliese as Co-Chairman of the Board of Directors. The expanded Board of Directors of the Company will include eight IAMGOLD directors and the eight current Wheaton directors.

The new company will have operating interests in seven gold operations located in the Americas, West Africa and Australia. Forecast annualized 2004 production of the combined company will be one million gold equivalent ounces, plus exposure to copper production. Forecast 2004 gold equivalent cash operating costs are estimated to average less than US$100 per ounce. The combined company will have proven and probable reserves of 9.0 million ounces plus additional measured and indicated resources of 4.4 million ounces and inferred resources of 10.5 million ounces. The new company will have strong operating cash flow and excellent financial flexibility with US$300 million in cash and gold bullion.

The combined company has immediate and near-term production growth through the development of the Amapari project in Brazil, the Los Filos project in Mexico and expansion of the Tarkwa mine in Ghana. These projects are expected to add over 300,000 ounces of annual gold production in 2006. In addition, the company will have a large portfolio of exploration projects in the Americas and West Africa.

die scheinen Ernst zu machen

gogh

werde die Anregung von bognair aufgreifen

und demnächst in der Rubrik Musterdepots

meine Favoriten vorstellen.


Mein Thread "Sitz und Pits in Australia (Goldminen)"

enthält schon meine Australien "Favorite GM´s".

Es werden die Austral. Kürzel benutzt.

Außer Newcrest, die ich früher verkauft haben,

sind Aktien von denen in meinem Depot.


gogh

subjektive Meinung:

Goldminen-Aktien kaufen; und sonst nichts.


Kingsgate ist eine GM, nur die ist lange exzellent

gelaufen. Es gibt sowas wie eine Rotation in der

Anlegergunst.

Im übrigen geht es mir nicht darum zu kritisieren.

Sondern über die Minen zu diskutieren, die

mir persönlich gefallen. Werden in meinen Postings genannt.


gogh

das "Konservative" Musterdepot erstaunt.

Keinen dieser Werte würde ich anfassen.


Aber gerade das ist natürlich spannend zu

verfolgen.


gogh

Welche Minen sind denn Deiner Meinung nach unterbewertet oder
=========================================
zumindest billig?
==========


Hier im Forum habe ich ca. 10 Minen erwähnt (bin erst 1 Monat dabei,

ist alles frisch). Man kann zusätzlich noch Harmony, Kinross, Sino Gold

nennen.

Das ist aber n i c h t das entscheidendende. Es kommt zuallererst

darauf an, eine eigene Meinung zum Gold zu entwickeln. Interessiert

man sich nicht wirklich für Gold an sich und als Geldwert, kann ich

nur raten, die Finger von den Minen zu lassen. Andernfalls ist

man allen möglichen Einflüsterungen ausgesetzt. Man wird

zwangsläufig "rausgeschüttelt".


Außerdem sollte man willens und in der Lage sein, notfalls

2 Jahre dabeizubleiben.


Nochmal ohne eigene Meinung zu Gold, keine Minen anfassen.


gogh

"Qualitätsminen" = Worthülse.
===================

Will jemand Schrottminen?
================


Man kann diskutieren: Produzent oder Explorer?


Tagebau oder Untertagemine?


Senior (Volumenproduzent) z. B. Barrick, Harmony, mehrer Mio Unz p. a.

oder Mittelgroße Mine, einige 100 tausend Unz/P. a. z. B. Iamgold,

Equigold


Riesige Resourcen/Reserven z. B. Western Areas


dann die schwierige Frage nach Sinn und Unsinn von Hedgin

(Hedgin wird regelmäßig von kreditierenden Banken verlangt.

Andere machen damit "große Pollitik" wie Barrick)


gogh

"Ne Silbermünze ist ein gutes Geschenk für Camper oder

Bauwagenbewohner"


Hab auch schon gelesen, daß die Futtertröge in der

Hühnerfarm aus Silber hergestellt werden sollen.

Verhindert Seuchen und Hühnergrippe.


Einer wollte Silberfäden in Socken einweben.

Verhindert Schweißfüße.


Bei Silber gilt, Genaues weiß man nicht.


gogh

gestern, heute

wenn man eine Bitte äußern kann.

Kalenderdatum plus Uhrzeit sollte nicht irgendwo

"unter ferner liefen" stehen.

Bei längeren beiträgen ist man erst nach dem Lesen kundig,

wann der Beitrag verfaßt wurde.


Es wäre hilfreich würden die Beiträge schlicht numeriert.


Bei tausenden Beiträgen in einem Thread ist alles andere

"Amnesie".


Bitte, als konstruktive Anregung verstehen.


gogh

Schlusskurse in Sydney am 23.04.04 in Pence-AUS$

AQP 642,0

EQI 150,0

LHG 116,0

NCM 1230,0

PEM 98,0

PSV 28,0

SBM 5,2

SGW 254,0

mal seh´n wie die Entwicklung sein wird

Meine Performance Favoriten für nächste 3 Monate AQP, EQI, LHG;

am langsamsten ebenfalls 3 Monate PEM, NCM

gogh

hab´mir vorgestern einige Perilya für 0,57€ zurückgekauft.

Der Kurs war ziemlich gefallen.

Die Goldaktivitäten haben Hand und Fuß.

Zink/Blei als Basismetall auch nicht schlecht.


Gogh

Thread-Überschrift:

Warum der Silberpreis explodiert?


Antwort von Loriot:

"Wo explodieren sie denn?"


Vielleicht bei den Silber-Derivaten?


Gogh

Produzierende Gold-Minen mit Sitz und Pits in Australien:
================

Größter: Newcrest , stark gehedgt, angebl. Übernahmekandidat
==============


2.gr. Goldprozent: Sons of Gwalia, hat Kapitalerhöh. gerade hinter
=====================
sich gebracht. Weltgrößter Tantalproduzent
Gold u. Tantal extrem gehedgt


Equigold: Tagebau in Austral., Exploration Westafrika, kaum gehedgt
=====

Santa Barbara und Perseverance, beide krisengeschüttelt
======== ==== ========
im Umbruch



Neuguinea-Minen nicht zu Austral. gezählt, z. B. Lihir mäßig gehedgt
================================

Herald und Perilya haben Goldinteressen; Schwerpunkt liegt
===========
aber eindeutig auf Basismetall (Zink u. Blei), sind noch im Aufbau

die Aufzählung erhebt keinen Anspruch auf Vollständigkeit;

ist das Stück vom Himmel, was der Frosch sieht, der im Brunnen sitzt

Gogh

Wer beim PoG-Rücksetzer 7 oder 10% kalte Füße

bekommt, ist vielleicht für dieses Segment nicht

geeignet. Derjenige kann sich bei der nächsten

Welle mit einer schwarzen Null deinvestieren.


Das wäre ein Rat


Gogh