DROOY - (DRDGOLD Ltd)

[Paciente]

A DRDGold (DROOY) está a cair mais de 7% para os 790 rands, tendo feito um mínimo intradiário nos 750 rands.

Chamo a atenção para o facto de a DROOY ter ontem feito o retest à LTd e fechado bem acima da mesma.

A razão desta queda de hoje da DROOY tem a ver com a notícia de que os seus resultados terão caído 200%!!! (ver notícia mais abaixo)

Do ponto de vista da análise contrária, esta pode ser uma boa oportunidade de entrada na DROOY. A sessão norte-americana deverá trazer alguma definição quanto ao rumo que a cotação da DROOY deverá seguir.

A DROOY apresenta os resultados no próximo dia 24 de Fevereiro.

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DRDGold sees interim losses of 200%
Posted Fri, 18 Feb 2005

Gold miner DRDGold announced on Friday it expected its headline loss per share for the six months ended December 31, 2004, would be more than 200 percent greater than that of the previous comparative period.

The increased loss was a result of a higher tax charge, resulting mainly from the suspension of deferred tax asset accounting in June 2004, largely due to the strengthening of the rand, the company said.

Equity loss

In addition, the recording of an equity loss of R20-million from associates following the acquisition of an increased shareholding in Emperor Mines, an Australian company with a gold mine in Fuji, in August 2004, would have an affect on DRDGold's earnings, DRDGold added.

The company planned to impair the carrying value of its South African gold mining assets and that would affect the group's basic loss per share, DRDGold said.

However, the group said the impairment had yet to be quantified.

"The above financial information refers to changes in bottom line losses as calculated using South African Generally Accepted Accounting Practice (GAAP) accounting standards," the company added.

DRDGold is scheduled to release its latest interims on February 24, 2005.

I-Net Bridge

[Paciente]

A DROOY está a caír mais de 8% para os 1.37 dólares, com volume muito forte.

É muito importante que os 1,38 aguentem, caso contrário deverá ir testar os mínimos.

Os resultados saíram hoje e, tal como se esperava, são muito maus. Já havia aqui postado uma notícia em que se dizia que era esperado uma queda de 200% nos resultados. O que não se esperava era esta informação de que a DROOY está com falta de dinheiro.


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UPDATE 2 - DRDGOLD posts deeper loss, warns on lack of cash
Thu Feb 24, 2005 04:28 AM ET

By Eric Onstad

JOHANNESBURG, Feb 24 (Reuters) - South African gold miner DRDGOLD (DRDJ.J: Quote, Profile, Research) posted a deeper first-half loss on Thursday and warned that it might run short of cash as it restructures mines that are not profitable.

The company has been hit hard by a buoyant rand currency which cuts export income, since it has the most low-grade mines of South Africa's major gold producers.

DRDGOLD shares, which tumbled 60 percent last year, dipped a moderate 1.6 percent to 8.10 rand by 0845 GMT since many investors expected bad news after a trading statement last week.

"They're in a bit of a pickle because they need to restructure and bring down the high costs and that's going to cost money which they don't have," an analyst said.

The country's fourth-largest gold producer said that at the end of last year current liabilities exceeded current assets. It also listed a series of risks to its business, including further appreciation of the rand.

"These conditions ... indicate the existence of a material uncertainty which may cast significant doubt about the group having sufficient cash resources to meet its current obligations," a statement said.

Such a cash squeeze might impact on the company's ability to continue operating as a going concern, it added.

The company planned to finance commitments from existing cash resources, the sale of assets and from debt facilities already in place or that would be negotiated, Chief Executive Mark Wellesley-Wood said in the statement.

DRDGOLD posted a headline loss for the six months to end-December of 64.4 cents per share, compared with a loss of 18.5 cents in the same period a year ago.

The company, which recently changed its name from Durban Roodepoort Deep, also said it had taken an impairment of 214 million rand ($36.57 million) for its North West mining assets, which were in the process of being restructured.

Headline earnings strip out capital, non-trading and extraordinary items. The net loss per share, including the impairment, ballooned to 149.9 cents from 18.1 cents.


MIGHT CLOSE MORE SHAFTS

The red ink was expected after the firm warned last week the headline loss would grow by more than 200 percent.

The company also said last week that it might have to close or mothball as much as one third of its South African production due to the strong rand, which has strengthened by more than 130 percent since late 2001.

It did not give details of changes at the North West mines, which underwent one round of restructuring in late 2003 that cut a fifth of output and 3,000 jobs.

North West operations, consisting of the Hartebeestfontein and Buffelsfontein mines, accounted for 54 percent of the firm's South African output and 34 percent of total production.

Underground costs at the North West mines in the first half were nearly 15,000 rand per kilogramme higher than the current domestic gold price of 81,000 rand/kg.

The company's other South African operations at Blyvoor recently underwent restructuring, but underground costs there were still more than 20,000 rand/kg above current prices.

DRDGOLD has been expanding in Australasia to lessen its exposure to the South African currency, and its overseas mines now make up 37 percent of total output.

The foreign operations contributed 188.6 million rand in first half cash operating profit while the domestic mines recorded a 81.4 million cash operating loss.

The firm had previously released production data showing first-half gold production increased slightly to 443,821 ounces from 435,800 ounces in the year-ago period.


© Reuters 2005. All Rights Reserved.

[Antunes]

Paciente,

Quais têm mais potencial, as ligadas à Extracção do Ouro ou as chamadas "Commodities"??

[Paciente]

Boas Antunes,

É difícil responder a essa pergunta uma vez que ambos os sectores têm bom potencial. No entanto, e dado que o sector dos metais preciosos sofreu forte correcção estando a cotar muito próximo do suporte de longo prazo, eu daria prioridade a este sector.


Abraço

[Paciente]

Já cai mais de 20% para os 1,19 tendo atingido um mínimo nos 1,16 dólares.

Volume fortíssimo = 7,5 milhões de acções.

[fig]

excelente ponto de entrada.

Bons trades e bons negócios.
fig

[Paciente]

A que ponto de entrada te referes?

É que à velocidade a que ela está a caír (já cotou abaixo de 1 dólar), dava jeito que especificasses o preço de entrada.

[TayOO]

já bateram os 0,91...

[atento]

acçoes a descer 30% esta a 1.08$..

JOHANNESBURG, Feb 24 (Reuters) - South Africa's fourth-biggest gold miner DRDGOLD (DRDJ.J: Quote, Profile, Research) posted a deeper first-half loss on Thursday and warned that it might run short of cash as it restructures mines that are not profitable.

The company has been hit hard by a buoyant rand currency which cuts export income, since it has the most low-grade mines of South Africa's major gold producers.

DRDGOLD shares, which tumbled 60 percent last year, dipped a moderate 1.58 percent to 8.10 rand by 1410 GMT since many investors expected bad news after a trading statement last week.

"They're in a bit of a pickle because they need to restructure and bring down the high costs and that's going to cost money which they don't have," an analyst said.

DRDGOLD's auditor, KPMG, drew attention to the miner's weak financial condition, noting in its financial statements that current liabilities exceeded current assets at the end of last year.

The miner listed a series of risks to its business, including further strengthening of the rand.

"These conditions ... indicate the existence of a material uncertainty which may cast significant doubt about the group having sufficient cash resources to meet its current obligations," a statement said.

Such a cash squeeze might impact on the company's ability to continue operating as a going concern, it added.

The company planned to finance commitments from existing cash resources, the sale of assets and from debt facilities already in place or that would be negotiated, Chief Executive Mark Wellesley-Wood said in the statement.

DRDGOLD posted a headline loss for the six months through December of 64.4 cents per share, compared with a loss of 18.5 cents in the same period a year ago.

The company, which recently changed its name from Durban Roodepoort Deep, also said it had taken an impairment of 214 million rand ($36.57 million) for its North West mining assets, which were in the process of being restructured.

Headline earnings strip out capital, non-trading and extraordinary items. The net loss per share, including the impairment, ballooned to 149.9 cents from 18.1 cents.


MIGHT CLOSE MORE SHAFTS

The red ink was expected after the firm warned last week the headline loss would grow by more than 200 percent.

The firm also had said it might have to close or mothball up to one third of its South African output due to the rand, which has strengthened by more than 130 percent since late 2001.

"We don't have a mandate from shareholders to continue pouring money down black holes and this process is going to end," Wellesley-Wood told a results presentation.

The restructuring at the North West mines, which employs 5,600 miners, might take six months to a year and cost in the region of 30 million to 100 million rand, he added.

Where possible loss-making underground mines would not be completely shut, but put on "care-and-maintenance" so they could be reopened if the rand weakened and made them profitable again.

North West operations, consisting of the Hartebeestfontein and Buffelsfontein mines, accounted for 54 percent of the firm's South African output and 34 percent of total production.

Underground costs at the North West mines in the first half were nearly 15,000 rand per kilogramme higher than the current domestic gold price of 81,000 rand/kg.

DRDGOLD has been expanding in Australasia to lessen its exposure to the South African currency, and its profitable overseas mines now make up 37 percent of total output.

[Paciente]

Caro Tay00,

Para mim, é nesta zona dos 0,90 - 0,91 que se deve alongar.

[TayOO]

0,80$ .....

[TayOO]

Já começaram a "recuperar", mas até que ponto???

Hoje ainda devem cair até aos 0,75, é a minha opinião...

[Antunes]

Boas Antunes,

É difícil responder a essa pergunta uma vez que ambos os sectores têm bom potencial. No entanto, e dado que o sector dos metais preciosos sofreu forte correcção estando a cotar muito próximo do suporte de longo prazo, eu daria prioridade a este sector.


Abraço

Sim mas nos metais preciosos, mais especificamente no ouro tens as que fazem extracção pura e dura e as outras ("commodities"). Eu prefiro as que fazem extracção, são mais puras... 

[TayOO]

Qual é a vossa previsão para amanhã???

Outra grande queda....

Ou uma boa recuperação...

É uma pergunta que até nem tenha resposta... 

[atento]

hoje fecha a 0.85/0.902...

e amanha vai andar entre os 0.75/0.80


um abraço