SOUTH AFRICAN MINING Message Board

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Gold/Mining/Energy : SOUTH AFRICAN MINING

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To: FuzzFace who wrote (121)	9/4/1998 1:09:00 PM
From: POLARBEAR	Read Replies (1) of 472

Hi Ed, I'd say RANGY is down a bit today because it's jumped 50% in three days. I added more RANGY to my holdings today at 11/16. Similar thoughts on Durban. Harmony is very thinly traded, often more so than RANGY. RANGY sold off Harmony for the cash. Their master plan is most likely to sell off everything, thus realizing the true value of all their assets, and eliminating the discount to NAV that may be around 50%. They are in the process of selling off much more, but as far as I know they plan to keep Durban, and of course their jewel, R.Resources. Their mineral rights holdings were estimated at $85 Million by an independent analyst. Who knows how accurate that is, but it gives an indication of the value of just some of their holdings. PB

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