RANDGOLD and EXPLORATION (RANGY) Message Board

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Gold/Mining/Energy : RANDGOLD and EXPLORATION (RANGY)

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To: Bob Dobbs who wrote (408)	12/23/1999 3:39:00 PM
From: baystock	Read Replies (1) of 448

Bob, post from Kitco on RANGY value: Date: Thu Dec 23 1999 13:03 John Disney ( the rangy situation ..) ID#24387: for Rangy haters and number lovers .. There nothing funny about Rangy .. Rangy ADR closed in NY at $3.81 yesterday after closing Joburg previously at 8.5 rand .. the adr are 3 for one .. so that means one rangy equivalent went for 3.81/3 = $1.27 times 6.14 = 7.8 rands ..about 8 per cent under the joburg close .. amazing .. I guess even in this age of internet and technology and all .. guys still have to be able to divide by three .. add to this the following insult .. upon the reorganization of JCI .. Rangold shareholders will receive 0.625 shares of Western areas stock ( AFTER it has paid out a div of 4.75 rands ) .. now WAR close 22.5 rands .. so assume it drops by 4.75 ex div makes 17.75 rands .. and 0.625 times that makes a rangold breakeven of 11.09 rands .. now the ADR is THREE of those so we're looking at 33.28 rands divided by 6.14 = $5.42 .. .. so there you are .. no internet stock .. no hot gold find .. .. just a market full of guys that are numerically crippled ..

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