/ 11 January 2000

DRD BUYS SOME HEDGES

DURBAN Roodepoort Deep (DRD) said on Monday it has secured unmargined hedging facilities to guard against margin calls from banks at a time of volatile gold prices. DRD also said it will not do any further hedging at current price level. “DRD wants to use its free cash for acquisitions and further growth, not for margin deposits with bullion banks,” DRD Chief Executive Mike Prinsloo said in a statement. DRD said it would provide details of its restructured hedge book at the company’s next quarterly results presentation on January 20