DRDGOLD lifts resources by 150 pct at S.African mine

(Reuters) - South African gold miner DRDGOLD said on Tuesday it had seen a 150 percent increase in total resources at its East Rand Proprietary Mines Limited (ERPM) operation at Boksburg.

The increase, to 41.37 million ounces from 16.58 million ounces at 30 June 2006, the company said in a statement.


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U.S. Fed's Kroszner mum on when Basel II regs ready

(Reuters) - By John Poirier



WASHINGTON, July 12 - U.S. regulators have made progress toward a final rule to implement an international capital adequacy plan for the biggest banks, U.S. Federal Reserve Governor Randall Kroszner on Thursday.


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Beazer Homes' Credit Default Swaps Surge After Chief Accountant Is Fired

(Bloomberg) -- The perceived risk of owning the
bonds of Beazer Homes USA Inc. surged after the company, under
federal investigation for potential fraud, fired its chief
accounting officer for trying to destroy documents.

Credit-default swaps based on $10 million of the Atlanta-
based homebuilder's bonds jumped as much as $80,000 to a record
$530,000 after Beazer said it fired Michael Rand, according to
CMA Datavision in London. The five-year contracts, used to
speculate on the company's ability to repay its debt, retreated
to about $500,000 as of 4:30 p.m. in New York. An increase
suggests a decline in the perception of credit quality.


Read more at Bloomberg Bonds News

Search for water gets harder in Southwest

(Reuters) - "Eight years of drought conditions and a growing population haven't helped," said Randy Pellatz, the assistant director of utilities for the city of Flagstaff.




The heavily forested, mountain town of Flagstaff has grown to 62,000 people from 45,000 in 1990, straining its water resources. Upper Lake Mary, a man-made reservoir that provides up to 40 percent of the town's water needs of 11 million gallons a day, is down to 18 percent of normal levels.


Read more at Reuters.com Bonds News