-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FJNC5WPd3BbFstXkLy8vMsxZpLeNURLWcboM4eoWojfyJU2IPZOR0j44BwhdYggy Cq8KZHm4Vk4GWf9ZDQyxnQ== 0000743872-96-000014.txt : 19960629 0000743872-96-000014.hdr.sgml : 19960629 ACCESSION NUMBER: 0000743872-96-000014 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19951231 FILED AS OF DATE: 19960627 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: HOMESTAKE MINING CO /DE/ CENTRAL INDEX KEY: 0000743872 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] IRS NUMBER: 942934609 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08736 FILM NUMBER: 96586625 BUSINESS ADDRESS: STREET 1: 650 CALIFORNIA ST-9TH FL CITY: SAN FRANCISCO STATE: CA ZIP: 94108-2788 BUSINESS PHONE: 4159818150 11-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 11-K ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended December 31, 1995 HOMESTAKE MINING COMPANY RETIREMENT SAVINGS PLAN FOR HOURLY EMPLOYEES AT LEAD (Full title of Plan) HOMESTAKE MINING COMPANY (Issuer of Securities Held Pursuant to the Plan) 650 California Street San Francisco, California 94108 (Address of principal executive offices) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Trustees (or other persons who administer the Plan) have duly caused this annual report to be signed by the undersigned thereunto duly authorized. HOMESTAKE MINING COMPANY RETIREMENT SAVINGS PLAN FOR HOURLY EMPLOYEES AT LEAD By /s/ T.H. Wong --------------- T.H. Wong Assistant Treasurer and Assistant Secretary June 27, 1996 Item 1. Financial Statements and Exhibits a. Financial Statements as of December 31, 1995 and 1994 and for the year ended December 31, 1995 and Supplemental Schedules as of and for the year ended December 31, 1995 and Independent Auditors' Report. b. Exhibit No. 23 Independent Auditors' Consent HOMESTAKE MINING COMPANY RETIREMENT SAVINGS PLAN FOR HOURLY EMPLOYEES AT LEAD ------- FINANCIAL STATEMENTS as of December 31, 1995 and 1994 and for the year ended December 31, 1995 HOMESTAKE MINING COMPANY RETIREMENT SAVINGS PLAN FOR HOURLY EMPLOYEES AT LEAD ------- TABLE OF CONTENTS
Financial Statements: Report of Independent Accountants 2 Statements of Net Assets Available for Benefits as of December 31, 1995 and 1994 3 Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 1995 4 Notes to Financial Statements 5-13 Supplemental Schedules: Item 27a - Schedule of Assets Held for Investment Purposes as of December 31, 1995 14 Item 27d - Schedule of Reportable Transactions for the year ended December 31, 1995 15
1 REPORT OF INDEPENDENT ACCOUNTANTS The Savings Plan Committee Homestake Mining Company San Francisco, California We have audited the accompanying statements of net assets available for benefits of Homestake Mining Company Retirement Savings Plan for Hourly Employees at Lead (the Plan) as of December 31, 1995 and 1994, and the related statement of changes in net assets available for benefits for the year ended December 31, 1995. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and the significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 1995 and 1994, and the changes in net assets available for benefits for the year ended December 31, 1995 in conformity with generally accepted accounting principles. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The accompanying supplemental schedules of assets held for investment purposes as of December 31, 1995 and of reportable transactions for the year then ended are presented for the purpose of additional analysis and are not a required part of the basic financial statements, but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These schedules are the responsibility of the Plan's management. Such schedules have been subjected to the auditing procedures applied in our audits of the basic financial statements and, in our opinion, are fairly stated, in all material respects, when considered in relation to the basic financial statements taken as a whole. /s/ Coopers & Lybrand L.L.P. - ---------------------------- San Francisco, California June 20, 1996 2 HOMESTAKE MINING COMPANY RETIREMENT SAVINGS PLAN FOR HOURLY EMPLOYEES AT LEAD STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS as of December 31, 1995 and 1994 (in thousands)
ASSETS 1995 1994 ---- ---- Cash and cash equivalents $ - $ 6 Investments: Homestake Mining Company Stock Fund 328 313 Norwest Bank Income Equity Stock Fund 910 429 Norwest Bank Growth Balanced Fund 1,779 1,281 Norwest Bank Stable Return Fund 2,811 2,385 Norwest Bank Short Term Investment Fund 83 - Norwest Bank Growth Equity Fund 256 - Participant loans receivable 358 200 ----- ----- Total investments 6,525 4,608 ----- ----- Total assets 6,525 4,614 LIABILITIES Amounts due brokers for securities purchases 32 9 ------ ------ Net assets available for benefits $6,493 $4,605 ====== ======
The accompanying notes are an integral part of these financial statements. 3 HOMESTAKE MINING COMPANY RETIREMENT SAVINGS PLAN FOR HOURLY EMPLOYEES AT LEAD STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS for the year ended December 31, 1995 (in thousands)
Additions to net assets attributed to: Interest and dividends $ 73 Interest on participants' loans 20 Net appreciation in fair value of investments 638 -------- 731 -------- Contributions: Company, in cash 249 Participants, in cash 1,112 Transfers in from other plans 37 -------- 1,398 -------- Total additions 2,129 -------- Deductions from net assets attributed to: Net depreciation in fair value of Homestake Mining Company Stock Fund 32 Benefits paid to participants 184 Transfers out to other plans 25 -------- Total deductions 241 -------- Net increase 1,888 Net assets available for benefits: Beginning of year 4,605 ------- End of year $ 6,493 =======
The accompanying notes are an integral part of these financial statements. 4 HOMESTAKE MINING COMPANY RETIREMENT SAVINGS PLAN FOR HOURLY EMPLOYEES AT LEAD NOTES TO FINANCIAL STATEMENTS ------- 1. Description of the Plan: The following description of the Homestake Mining Company Retirement Savings Plan for Hourly Employees at Lead (the Plan) provides only general information. Participants should refer to the full Plan for a more complete description of the Plans provisions. The Plan is sponsored by Homestake Mining Company (the Company) and allows employees who are subject to a collective bargaining agreement which provides for their participation in the Plan, to save for their retirement under a structured savings plan. The Plan is a defined contribution plan and became effective January 1, 1990, and is subject to the provisions of the Employee Retirement Income Security Act (ERISA) of 1974, as amended. The Plan is administered by the Savings Plan Committee appointed by the Board of Directors of the Company. Norwest Bank is the Trustee of the Plan. Participation: Hourly employees of the Company's mine in Lead, South Dakota, who have completed three months of service are eligible to participate in the Plan. Separate accounts are maintained for each participant. Each participant's account is directly credited with the participant's contribution and the Company's matching contribution. Net earnings from each investment fund, including appreciation (depreciation) in fair value, are allocated to each participant's account based on the ratio which the participant's account balance in that investment fund bears to the total of all participants' account balances in that investment fund. Net earnings from investment in common stock of the Company, including appreciation (depreciation) in fair value, are allocated to each participant's account based on the actual number of shares of such common stock included therein. Contributions: Contributions to the Plan are made by Plan participants through wage deferrals. Plan participants may contribute from 1% to 16% of their Plan compensation and may allocate contributions to one or more of the funds. Participants may also contribute amounts from certain other qualified plans. From January 1 through May 28, 1995, the Company matched 25% of the first 6% of each employee's compensation contributed. Thereon, the Company matching rate increased to 35% from 25%. Each participating employee may cause some or all of its current or cumulative contributions, including any amounts contributed by the Company to match contributions, to be invested in one or more of the investments made available through the Plan. 5 HOMESTAKE MINING COMPANY RETIREMENT SAVINGS PLAN FOR HOURLY EMPLOYEES AT LEAD NOTES TO FINANCIAL STATEMENTS ------- 1. Description of the Plan, continued: Vesting: Participant contributions and any income (loss) thereon are fully vested at all times. Company contributions and the related income (loss) for these contributions vest 60% after three years, 80% after four years, and 100% after five years from the initial date of employment. Payment of Benefits: Participants or their designated beneficiaries are eligible to withdraw from their accounts following the participant's attainment of age 59-1/2, termination of employment with the Company, death, or in the case of financial hardship. The Plan permits withdrawal of matching contributions made by the Company that have vested and were made not less than 2 years prior to such withdrawals; however, the right of the participant who makes such a withdrawal to continue participating in the Plan is suspended for six to twelve months depending upon amounts so withdrawn. Participant Loans Receivable: Participants may borrow from $1,000 to $50,000 from their vested accounts, limited to 50% of the vested value of such accounts. Borrowings cannot exceed five years unless the loan is for the purchase of a principal residence, in which case, it cannot exceed ten years. Borrowings bear interest at rates determined by the lending institution, subject to approval of the Plan Committee at the origination of the loan and are repayable through biweekly payroll deductions. During 1995, the borrowing rate was 8.75%. Loans are collateralized by the borrower's note and vested interest in the Plan. Forfeitures: Forfeitures of terminated employees' unvested Company contributions are allocated to active participants at the end of each Plan year. The forfeitures are allocated in proportion to the Company contribution made to the individual participant accounts during the Plan year. 6 HOMESTAKE MINING COMPANY RETIREMENT SAVINGS PLAN FOR HOURLY EMPLOYEES AT LEAD NOTES TO FINANCIAL STATEMENTS ------- 2. Significant Accounting Policies: Use of Estimates The preparation of financial statements in conformity with general accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of net assets available for benefits at the date of the financial statements and the reported amounts of changes in net assets available for benefits during the reporting period. Actual results could differ from those estimates. Basis of Accounting: The financial statements of the Plan are prepared under the accrual basis of accounting in accordance with generally accepted accounting principles. Investment Valuation and Income Recognition: The Plan's investments are stated at fair value by reference to quoted market prices. Participant notes receivable are valued at cost which approximates fair value. Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net Appreciation (Depreciation) in Fair Value of Investments: The Plan presents in the statement of changes in net assets available for benefits the net appreciation in fair value of its investments, which consists of realized gains (losses) and the unrealized appreciation (depreciation) on those investments. Payment of Benefits: Amounts allocated to accounts of participants who have elected to withdraw from the Plan but have not been paid as of year end are included in net assets available for benefits. Reclassifications: Certain amounts for 1994 have been reclassified to conform to the current year's presentatio, with no effect on the net assets available for benefits or net change in net assets available for benefits, as previously reported. 3. Related Party Transactions: Certain Plan investments are units in investment funds managed by Norwest Bank. Norwest Bank is the Plan's Trustee, therefore, these transactions qualify as party-in-interest. 7 HOMESTAKE MINING COMPANY RETIREMENT SAVINGS PLAN FOR HOURLY EMPLOYEES AT LEAD NOTES TO FINANCIAL STATEMENTS ------- 4. Plan Termination: Although the Company has not expressed any intent to do so, it has the right, under the Plan and subject to applicable law, to discontinue its contribution at any time and to terminate the Plan. In the event of Plan termination, all accumulated plan benefits will be fully vested and will be distributed to participants based on their respective account balances. 5. Plan Tax Status: The Plan received a favorable tax determination letter in July, 1991 in which the Internal Revenue Service stated that the Plan, as then designed, was in compliance with Sections 401(a) and 401(k) of the Internal Revenue Code. The Plan has been amended since receiving the determination letter. However, the Plan administrator and the Plan's tax counsel are not aware of circumstances creating a material risk of Plan disqualification. Therefore, no provision for income taxes has been included in the Plan's financial statements. Participating employees are not subject to federal income tax on amounts added to their accounts for contributions and investment income until such time as they withdraw amounts from the Plan. 6. Administrative Expenses: Certain administrative expenses of the Plan are paid for by the Company. 8 HOMESTAKE MINING COMPANY RETIREMENT SAVINGS PLAN FOR HOURLY EMPLOYEES AT LEAD NOTES TO FINANCIAL STATEMENTS ------- 7. Investments: Investments at December 31, 1995 and 1994 are comprised of the following (in thousands) :
December 31, 1995 -------------------------------------------------------- Number of Value Reported Shares or Per Value Units Held Unit (in thousands) ---------- -------- -------------- Homestake Mining Company Stock Fund 21,178 $ 15.49 $ 328 Norwest Bank Income Equity Stock Fund 35,681 25.49 910 Norwest Bank Growth Balanced Fund 83,383 21.33 1,779 Norwest Bank Stable Return Fund 126,896 22.15 2,811 Norwest Bank Short Term Investment Fund 82,521 1.00 83 Norwest Bank Growth Equity Fund 9,699 26.41 256 Participant loans receivable - - 358 -------- $6,525 ======== December 31, 1994 -------------------------------------------------------- Number of Value Reported Shares or Per Value Units Held Unit (in thousands) ----------- ------- -------------- Homestake Mining Company Stock Fund 18,272 $ 17.13 $ 313 Norwest Bank Income Equity Stock Fund 22,908 18.74 429 Norwest Bank Growth Balanced Fund 71,704 17.86 1,281 Norwest Bank Stable Return Fund 114,652 20.80 2,385 Participant loans receivable - - 200 -------- $4,608 ========
9 HOMESTAKE MINING COMPANY RETIREMENT SAVINGS PLAN FOR HOURLY EMPLOYEES AT LEAD NOTES TO FINANCIAL STATEMENTS ------- 7. Investments, continued: All earnings on the investment funds are reinvested in and credited to each fund daily. These earnings include interest, dividends, and appreciation (depreciation) in fair value. The Homestake Mining Company Stock Fund invests in shares of Homestake Mining Company. The Income Equity Fund's objective is to achieve a high level of current income with moderate appreciation through investment in equity securities. The Growth Balanced Fund's objective is to maximize growth through appreciation from quality stocks, while moderating risk by investing in intermediate maturity bonds, including corporate, U.S. government and mortgage-backed and related securities. The Stable Return Fund's objective is to achieve reasonable and consistent current income by investing in fixed income securities and other investments. The Short Term Investment Fund consists of short term and floating rate investments. The Growth Equity Fund invests in U.S. and international equity securities. 8. Reconciliation of Financial Statements to Form 5500: The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500 as of December 31, 1995 (in thousands):
Net assets available for benefits per the financial statements $6,493 Amounts allocated to withdrawing participants (33) ------ Net assets available for benefits per the Form 5500 $6,460 ======
The following is a reconciliation of benefits paid to participants per the financial statements to the Form 5500 for the year ended December 31, 1995 (in thousands):
Benefits paid to participants per the financial statements $184 Amounts allocated to withdrawing participants at December 31, 1995 33 ---- Benefits paid to participants per the Form 5500 $217 =====
10 HOMESTAKE MINING COMPANY RETIREMENT SAVINGS PLAN FOR HOURLY EMPLOYEES AT LEAD NOTES TO FINANCIAL STATEMENTS ------- 9. Net Assets Available for Benefits by Investment Type: At December 31, 1995 and 1994, net assets available for benefits were held in the following participant-designed investment types (in thousands):
Norwest Homestake Bank Norwest Norwest Mining Income Bank Bank Company Equity Growth Stable Stock Stock Balanced Return Fund Fund Fund Fund ---------- -------- -------- ------- December 31, 1995: ASSETS Investments, at fair value: Investments held by trustee - $ 910 $ 1,779 $ 2,811 Common stock of the Company $ 328 - - - Participant loans receivable - - - - --------- --------- ----------- ----------- Total assets 328 910 1,779 2,811 LIABILITIES Amounts due to brokers for securities purchased - 11 12 - --------- ------- ---------- ------------ Net assets available for benefits $ 328 $ 899 $ 1,767 $ 2,811 ====== ====== ======= ======== Norwest Norwest Bank Bank Short Term Growth Investment Equity Participant Fund Fund Loans Total ---------- -------- ----------- --------- December 31, 1995: ASSETS Investments, at fair value: Investments held by trustee $ 83 $ 256 - $ 5,839 Common stock of the Company - - - 328 Participant loans receivable - - $ 358 358 ------ ------- ------ --------- Total assets 83 256 358 6,525 LIABILITIES Amounts due to brokers for securities purchased - 9 - 32 ------ ------- ------- ---------- Net assets available for benefits $ 83 $ 247 $ 358 $ 6,493 ======= ====== ======= ========
11 HOMESTAKE MINING COMPANY RETIREMENT SAVINGS PLAN FOR HOURLY EMPLOYEES AT LEAD NOTES TO FINANCIAL STATEMENTS 9. Net Assets Available for Benefits by Investment Type, continued:
Norwest Homestake Bank Norwest Norwest Mining Income Bank Bank Company Equity Growth Stable Stock Stock Balanced Return Participant Fund Fund Fund Fund Loans Total ---------- ------- -------- -------- ----------- ------ December 31, 1994: ASSETS Cash and cash equivalents $ 6 - - - - $ 6 ---- ------ ------- -------- ------- ------- Investments, at fair value: Investments held by trustee - $429 $1,281 $2,385 - 4,095 Common stock of the Company 313 - - - - 313 Participant loans receivable - - - $ 200 200 ----- ------ ------- -------- ----- ------ Total investments 313 429 1,281 2,385 200 4,608 ----- ----- ------- -------- ------ ------ Total assets 319 429 1,281 2,385 200 4,614 LIABILITIES Amounts due to brokers for securities purchased 6 1 2 - - 9 ------ ------ ------- ------- ------ ------- Net assets available for benefits $ 313 $ 428 $ 1,279 $ 2,385 $ 200 $4,605 ===== ===== ======= ======= ===== =======
12 HOMESTAKE MINING COMPANY RETIREMENT SAVINGS PLAN FOR HOURLY EMPLOYEES AT LEAD NOTES TO FINANCIAL STATEMENTS ------- 10. Changes in Net Assets Available for Benefits by Investment Type: During the year ended December 31, 1995, changes in net assets available for benefits are allocated among the Plan's investment funds as follows (in thousands):
Year Ended December 31, 1995 ------------------------------------------------------ Norwest Homestake Bank Norwest Norwest Mining Income Bank Bank Company Equity Growth Stable Stock Stock Balanced Return Fund Fund Fund Fund --------- -------- -------- --------- Additions to net assets attributed to: Interest and dividends $ 4 $ 18 $ 49 - Interest on participants' loans - - - - Net appreciation in the fair value of investments - 189 275 $ 169 Contributions: Company, in cash 13 40 59 109 Participants, in cash 60 183 266 490 Transfers in from other plans - - 2 35 ------- ------- ------- ------ Total Additions 77 430 651 803 ----- ---- ----- ----- Deductions to net assets attributed to: Net depreciation in the fair value of Homestake Mining Company Stock Fund 32 - - - Benefits paid to participants 20 21 63 66 Transfers out to other plans 2 5 16 2 ------ ------ ------ ------- Total Deductions 54 26 79 68 ----- ----- ------ ------ Interfund Transfers (8) 67 (84) (309) ------- ----- ------ ------ Net increase (decrease) 15 471 488 426 Net assets available for benefits: Beginning of year 313 428 1,279 2,385 ----- ----- ------ ------ End of year $ 328 $ 899 $1,767 $2,811 ===== ===== ====== ======
Year Ended December 31, 1995 ---------------------------------------------------- Norwest Norwest Bank Bank Short Term Growth Investment Equity Participant Fund Fund Loans Total ---------- ------- ----------- ----- Additions to net assets attributed to: Interest and dividends $ 1 $ 1 - $ 73 Interest on participants' loans - - $ 20 20 Net appreciation in the fair value of investments - 5 - 638 Contributions: Company, in cash 17 11 - 249 Participants, in cash 64 49 - 1,112 Transfers in from other plans - - - 37 ------ ----- ------ ------- Total Additions 82 66 20 2,129 ------ ----- ------ ------- Deductions to net assets attributed to: Net depreciation in the fair value of Homestake Mining Company Stock Fund - - - 32 Benefits paid to participants 1 - 13 184 Transfers out to other plans - - - 25 ------ ------ ------ ------- Total Deductions 1 - 13 241 ------ ------ ------ ------- Interfund Transfers 2 181 151 - ------ ------ ------ ------- Net increase (decrease) 83 247 158 1,888 Net assets available for benefits: Beginning of year - - 200 4,605 ------ ------ ------ ------- End of year $ 83 $ 247 $ 358 $ 6,493 ===== ===== ====== =======
13 HOMESTAKE MINING COMPANY RETIREMENT SAVINGS PLAN FOR HOURLY EMPLOYEES AT LEAD ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES as of December 31, 1995
(c) Description of Investment (including (b) Identity of Maturity Date, Rate Issuer, Borrower, of Interest, (e) Current Lessor, or Collateral, Par (d) Cost Value (a) Similar Party or Maturity Value) (in thousands) (in thousands) --- ----------------- ---------------------- -------------- -------------- * Homestake Mining Common stock (21,178 Company shares; no par value) $ 338 $ 328 * Norwest Bank Norwest Bank Income Equity Stock Fund (35,681 units) 721 910 * Norwest Bank Norwest Bank Growth Balanced Fund (83,383 units) 1,533 1,779 * Norwest Bank Norwest Bank Stable Return Fund (126,896 units) 2,394 2,811 * Norwest Bank Norwest Bank Short Term Investment Fund (82,521 units) 83 83 * Norwest Bank Norwest Bank Growth Equity Fund (9,699 units) 251 256 * Participant notes (Repayable over five years unless it is for purchase of a principal residence which is repayable over ten years. Interest rate was 8.75% per annum in 1995) 358 358 * Represents party-in-interest to Plan.
14 HOMESTAKE MINING COMPANY RETIREMENT SAVINGS PLAN FOR HOURLY EMPLOYEES AT LEAD ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS for the year ended December 31, 1995 (in thousands)
(f) Expenses (b) Description of Asset Incurred (a) Identity of (Include Interest Rate and (c) Purchase (d) Selling (e) Lease with Party Involved Maturity in Case of a Loan) Price Price Rental Transaction -------------- --------------------------- ------------ ----------- --------- ------------ Combined transactions: Norwest Bank Income Equity Stock Fund $387 - - - Norwest Bank Growth Balanced Fund 517 - - - - $295 - - Norwest Bank Stable Return Fund 780 - - - - 523 - - Norwest Bank Growth Equity Fund 264 - - -
(h) Current Value of (i) Net (b) Description of Asset Asset on Gain (a) Identity of (Include Interest Rate and (g) Cost Transaction or Party Involved Maturity in Case of a Loan) of Asset Date (Loss) --------------- --------------------------- -------- ------------ -------- Combined transactions: Norwest Bank Income Equity Stock Fund - - - Norwest Bank Growth Balanced Fund - - - $260 $295 $35 Norwest Bank Stable Return Fund - - - 464 523 59 Norwest Bank Growth Equity Fund - - -
15 EX-23 2 Exhibit 23 CONSENT OF INDEPENDENT ACCOUNTANTS We consent to the incorporation by reference in Post-Effective Amendment No. 5 to the Registration Statement of Homestake Mining Company on Form S-8 (File No. 33-32174) of our report dated June 20, 1996, on our audits of the financial statements and financial statement schedules of the Homestake Mining Company Retirement Savings Plan for Hourly Employees at Lead as of December 31, 1995 and 1994, and for the year ended December 31, 1995, which report is included in this Annual Report on Form 11-K. /s/ Coopers & Lybrand L.L. P. - ------------------------------ COOPERS & LYBRAND L.L.P. San Francisco, California June 24, 1996 -----END PRIVACY-ENHANCED MESSAGE-----