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Great commentary from Murphy, Turk, Calandra, and Sinclair
12:08a ET Tuesday, August 19, 2003
Dear Friend of GATA and Gold:
Below is a press release announcing the addition of
Durban Roodeport Deep to the Philadelphia Stock
Exchange's gold and silver index, the XAU. While a
similar press release doesn't seem handy, word is
that Kinross Gold was just recently added as well.
Kinross does appear on the latest XAU list.
While the XAU long has been disparaged for its
inclusion of hedgers and thus has not been as well
followed among some gold partisans as the American
Stock Exchange's quot;Gold Bugsquot; index, the HUI, the
XAU is looking more and more unhedged:
A direct link to the Amex's HUI isn't available, but
here's the HUI list as posted tonight at the Amex's
Internet site (a href=http://www.amex.comhttp://www.amex.com/a):
Gold Fields Ltd.
Freeport Mcmoran Copper and Gold
Coeur d'Alene Mines
Golden Star Resources
Agnico Eagle Mines
Harmony Gold Mining
Keep in mind that both indexes have unequal weightings
for the component shares.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
Durban Deep joins XAU
JOHANNESBURG, South Africa, Aug. 18 -- With
effect from today, the shares of South African
gold producer Durban Roodepoort Deep Ltd. have
been included as a constituent of the benchmark
Philadelphia Gold and Silver Index, the XAU.
DRD will join fellow South African gold producers
AngloGold, Gold Fields, and Harmony in the index.
Durban Chairman and CEO Mark Wellesley-Wood said:
quot;The inclusion of DROOY in this index recognizes
the stock's appeal to the North American investment
market as well as its exceptional liquidity. The
move will also broaden our investor base and help
us attract future gold investors.quot;