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Published on Gold Anti-Trust Action Committee (http://www.gata.org)

Gold believers wage war against the dollar

By cpowell
Created 2002-06-21 07:00

4:14p ET Thursday, June 20, 2002

Dear Friend of GATA and Gold:

Here's great news about two gold-mining companies
that have been among GATA's most devoted supporters.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

DRD to pay first dividend in 107 years

By Matthew Jones
Financial Times
June 19, 2002

Durban Roodepoort Deep, South Africa's fourth-largest
gold miner, confirmed on Wednesday it would pay the
first dividend in its 107-year history when it reports
full-year earnings next month.

The statement came as the company said it was
seeking a full listing on the Australian stock exchange,
raising speculation that it may be planning acquisitions
in Australia.

Mark Wellesley-Wood, chairman of DRD, told the
Financial Times the company was back on track after
a "tumultuous year" of sweeping management changes
and litigation.

The group's intention to pay a dividend was definite
and earnings were improving after winding down the
gold hedge book and paying down debt.

"The dividend is now in the budget and we will be
making a statement on future dividend policy next
month," he added.

DRD has in the past had a reputation for high
operating costs, poor gold hedging, and poor
corporate governance.....

Wellesley-Wood said the group had wound down its
hedge book, making it one of the most highly-geared
roducers to the gold price. He added that it was expected
to gain approval this week for a full listing on the
Australian stock exchange, raising expectations that it
may be planning paper acquisitions there.

Wellesley-Wood declined to confirm whether acquisitions
were planned in Australia but said the group was looking
to grow through a mixture of mine purchases and the
development of existing assets.

"We are not aiming to get big for the sake of it but will
continue our strategy of buying cheap assets that other
producers consider non-core," he added....

* * *

Golden Star listed on American Stock Exchange
(company press release)

DENVER, Colo., June 18, 2002 -- Golden Star Resources
Ltd. is pleased to confirm that it will be listed, and commence
trading, on the American Stock Exchange on Wednesday,
June 19, 2002 under the symbol GSS.

The Company will ring the morning bell at the AMEX at the
commencement of trading on Wednesday June 19, 2002.

Golden Star's AMEX specialist will be LaBranche & Co. LLC.

Peter Bradford, president and chief executive officer of
Golden Star, said: "We are delighted to be listing on the
AMEX as this will provide much better visibility and liquidity
for the company and our shareholders. This could not have
happened at a better time for Golden Star as the whole gold
sector is getting a lot more support and Golden Star has
just emerged from several years of successful restructuring
and consolidation, which have resulted in a much stronger
company with robust revenue, earnings, and development
opportunities."

Golden Star will continue trading on the Toronto Stock
Exchange under the symbol GSC. Trading of the company's
shares on the Over-The-Counter Bulletin Board under the
symbol GSRSF will be discontinued at close of business on
Tuesday June 18, 2002.

The company has approximately 65 million shares outstanding
with a current market capitalization of approximately $100 million.
Golden Star has a 90 percent interest in the Bogoso/Prestea
open-pit gold mine in Ghana, a 45 percent managing interest in
the Prestea underground mine in Ghana, and is in the process
of acquiring a 90 percent interest in the Wassa gold project in
Ghana. In addition, the company has other gold exploration
interests in the Guiana Shield in South America and in West Africa.

----------------------------------

RECOMMENDED INTERNET SITES
FOR DAILY MONITORING OF GOLD
AND PRECIOUS METALS
NEWS AND ANALYSIS

Free sites:

http://www.theminingweb.com/ [1]

http://www.gold-eagle.com/ [2]

http://www.kitco.com/ [3]

http://www.usagold.com/ [4]

http://www.321gold.com/ [5]

http://www.GoldSeek.com/ [6]

Subscription site:

http://www.lemetropolecafe.com/ [7]

Eagle Ranch discussion site:

http://os2eagle.net/checksum.htm [8]

-------------------------------------

COIN AND PRECIOUS METALS DEALERS
WHO HAVE SUPPORTED GATA
AND BEEN RECOMMENDED
BY OUR MEMBERS

Centennial Precious Metals
3033 East 1st Ave.
Suite 403
Denver, Colorado 80206
www.USAGold.com [9]
Michael Kosares, Proprietor
US (800) 869-5115
Canada 1-800-294-9462
European Union 00-800-2760-2760
Australia 0011-800-2760-2760
cpm@usagold.com [10]

Colorado Gold
222 South 5th St.
Montrose, Colorado 81401
www.ColoradoGold.com [11]
Don Stott, Proprietor
1-888-786-8822
Gold@gwe.net [12]

Investment Rarities Inc.
7850 Metro Parkway
Minneapolis, Minnesota 55425
http://www.gloomdoom.com [13]
Greg Westgaard, Sales Manager
1-800-328-1860, Ext. 8889
gwestgaard@investmentrarities.com [14]

Lee Certified Coins
P.O. Box 1045
454 Daniel Webster Highway
Merrimack, New Hampshire 03054
www.certifiedcoins.com [15]
Ed Lee, Proprietor
1-800-835-6000
leecoins@aol.com [16]

Miles Frankl Ltd.
3601 Park Center Building
Suite 120
St. Louis Park, Minn. 55416
1-800-822-8080 / 952-929-1129
fax: 952-925-0143
www.milesfranklin.com [17]
Contacts: David Schectman,
Andy Schectman, and Bob Sichel

Resource Consultants Inc.
6139 South Rural Road
Suite 103
Tempe, Arizona 85283-2929
Pat Gorman, Proprietor
1-800-494-4149, 480-820-5877
Metalguys@aol.com [18]

Swiss America Trading Corp.
15018 North Tatum Blvd.
Phoenix, Arizona 85032
http://www.buycoin.com [19]
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
figoldstein@buycoin.com [20]

-------------------------------------

HOW TO HELP GATA

If you benefit from GATA's dispatches, please
consider making a financial contribution to
GATA. We welcome contributions as follows.

By check:

Gold Anti-Trust Action Committee Inc.
c/o Chris Powell, Secretary/Treasurer
7 Villa Louisa Road
Manchester, CT 06043-7541
USA

By credit card (MasterCard, Visa, and
Discover) over the Internet:

http://www.gata.org/creditcard.html [21]

By GoldMoney:

http://www.GoldMoney.com [22]
Gold Anti-Trust Action Committee Inc.
Holding number 50-08-58-L

By E-Gold:

http://www.e-gold.com [23]
Gold Anti-Trust Action Committee Inc.
Account number 110915

Donors of $750 or more will, upon request,
be sent a print of Alain Despert's colorful
painting symbolizing our cause, titled
"GATA."

GATA is a civil rights and educational
organization under the U.S. Internal Revenue
Code and contributions to it are
tax-deductible in the United States.


Source URL:
http://www.gata.org/node/1484