Re: Man könnte bei 255 USD Gold kaufen sollen...

verfasst von Albrecht, 15.02.2001, 21:04

Hallo bullbull,

hier ist die Antwort auf Deine Frage:

CAPE TOWN -- Harmony Gold has ended its long-standing commitment not to hedge the
gold market by unveiling a one million ounce price protection programme.

The financial structure is aimed at providing insurance to the bankers supporting the South
African group's $128 million (R1 billion) acquisition of the Elandsrand and Deelkraal mines as
well as an additional offer to buy Australian gold company, New Hampton.

Bernard Swanepoel, chief executive of Harmony, announced at the Indaba Mining Conference
in Cape Town, that the group had secured"price protection arrangements" for the first year of
the financial commitments. It did this through the purchase of one million ounces of put
options at a strike price of about R64 000 per kilogram. This is equal to $250 per ounce.

"This arrangement will protect Harmony from potential adverse movements in the gold price,
whilst allowing the company to fully participate in any increase in the gold price," the company
said in its official statement. Harmony Gold 30 cents up in intra-day trade to R35.50 a share.

Swanepoel said Harmony's debt to equity would increase to about 40 per cent from its current
25 per cent level.

Commenting on other developments in the company, Swanepoel said he would be surprised
if it took more than 10 quarters in total to record payback on last year's $100 million
acquisition of Randfontein Estates. Harmony recently said it had got its money back for the
$69 million acquisition of Evander Gold Mines.

In tandem with the hedging mechanism, the group said it had secured bank support for its
recent acquisitions.

A group of banks including Absa Bank Ltd, Australia and New Zealand Banking Group Ltd
have supported the deal. Other banks involved in the arrangement are BoE Merchant Bank,
Citibank NA and JP Morgan plc. The financing is subject to Reserve Bank approval.

Gruß
Albrecht


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gesamter Thread:

• Man könnte bei 255 USD Gold kaufen sollen... - bullbull, 15.02.2001, 20:37
  • Re: Man könnte bei 255 USD Gold kaufen sollen... - Albrecht, 15.02.2001, 21:04
    • @dottore und alle Bankenkenner, was steckt hinter der Put-Option? - bullbull, 15.02.2001, 21:19
      • Re: @dottore und alle Bankenkenner, was steckt hinter der Put-Option? - JüKü, 15.02.2001, 21:40
        • Re: @dottore und alle Bankenkenner, was steckt hinter der Put-Option? - d.o.c., 15.02.2001, 23:02
          • Re: @dottore und alle Bankenkenner, was steckt hinter der Put-Option? - JüKü, 15.02.2001, 23:16
            • Ein Put bedeutet letztlich: irgendwer verkauft und zwar sofort, deshalb... - bullbull, 15.02.2001, 23:58
              • Re: Ein Put bedeutet letztlich: irgendwer verkauft und zwar sofort, deshalb... - jagg, 16.02.2001, 00:43
        • Und die Banken verdienen zusätzlich an den Prämien. - BossCube, 15.02.2001, 23:10
          • Re: Und die Banken verdienen zusätzlich an den Prämien. - JüKü, 15.02.2001, 23:19
            • Re: Und die Banken verdienen zusätzlich an den Prämien. - jagg, 16.02.2001, 00:59