DRD's latest PR today is worth a look for mine - but it's in pdf. format and so I can't copy and past here.
Amongst other things, it contians the following inteeresting facts:
* Gold production from SA mines has just reached a 10 year low.
* The risk of exploration in SA has increased significantly - currently rated behind Ghana and China, and only slightly aheaad of India and Russia.
* The Chamber of Mines in SA reckons that approximately one third of SA gold production is loss making - and that's before capital expenditure is taken into account!
Now, on the other hand I like DRD - in fact it's one of the 2 stocks I currently hold. And so I'm biased - no argument from me.
But - the same PR provides the following:
! In the last quarter, just under 1/3 of the company's total gold production (of 240,758 ounces)came from PNG .... and this at the lowest cost for the group's mines.
! DRD is the most heavily traded gold stock in the world - over 4,000,000 shares trading eveery day on average across eight international exchanges!
! Even further, DRD is the largest holder of exploration tenements in the mineral rich country of PNG.
And so, as the Ghost Busters' theme says -
... "When there's trouble in the neighbourhood (s. world economy),
who you gonna call - Ghost Busters (s. DRD) !!!!
And, if all of that hasn't convinced you that DRD is at least worth consideration, read the report at http://imagesignal.comsec.com.au/asxdata/20040628/pdf/00443025.pdf
bye.dub
DRD Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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