DRD takes strategic stake in GoldMoney.com
26 January 2004
SA gold producer’s new gold marketing initiative
Durban Roodepoort Deep, Limited (JSE: DUR; NASDAQ: DROOY; ASX: DRD) today (26 January 2004)
broadened its initiatives to expand the gold market by announcing its acquisition of a strategic stake in
GoldMoney.com, a leading internet-based gold marketing company.
DRD’s initial investment of US$200 000 (1.4%) comes with an option to increase its stake to $2 million, or
14.3%, at a later stage.
GoldMoney was founded by James Turk, the well known and internationally respected authority on the precious
Turk says: “GoldMoney is the easiest and most economical way to buy and sell gold on the internet, but we see
gold not only as a metal but also as a form of currency.
“We believe there is huge potential for gold to be used more for low-cost online payments worldwide, as people
are now doing with GoldMoney. Using gold in this way will increase its demand to the benefit of the industry. “
DRD CEO Ian Murray comments: “We’re well known for our belief in gold as money and for some time we’ve
been considering ways of actively encouraging private ownership of gold. Gold money, to our mind, is one very
direct way. It is particularly attractive for South Africans who, regrettably, cannot own gold in bullion form due to
long-standing legal constraints.
“We look forward to growing our association with GoldMoney; to seeing it gain more prominence as
international markets seek alternatives to the US dollar as the currency for international trade; and to announcing
similar downstream activities into the future.”
In January 2003, DRD began an investigation into various gold beneficiation and marketing options. The
company decided on an initial investment in GoldMoney, given its leadership position in the market and the
secure, state-of-the-art technology it uses to effect transactions.
GoldMoney has aro