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Gold/Mining/Energy : SOUTH AFRICAN MINING
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To: POLARBEAR who wrote (98)8/12/1998 3:20:00 PM
From: baystock   of 472
 
Polar Bear,

<<"Randgold Resources' reputation rests on Syama's achieving 270 000oz a year at a cost of $210/oz. >>

This is the key and where the risk lies. Remember, BHP one of the biggest mining companies in the world gave up on the Syama and sold it to Randgold. If there are significant cost overuns or the cost of production is much higher than the projected $210/oz, Randgold does not have the deep pockets to throw more money at the problem.

Ram
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