More developments concerning Rangy's portfolio of South African mineral rights. - Bob
03/07/2000 - 20:02:09
Johannesburg, 3 July 2000 - While a number of restructuring possibilities continue to be considered at the holding company level, it is business as usual at Randgold & Exploration's remaining operations, both of which have good prospects, Chairman Roger Kebble says in the group's annual reports published today. Having cashed in on some of its exploration and development success (through the disposal of half of its stake in the Morila project to Anglogold), Randgold Resources is now in a different league, where its enhanced capabilities should realise greater rewards. It has the strategies, the expertise and the people to achieve this," Kebble said. The $132 million Randgold Resources would receive from the Morila deal would strengthen its ability to make further discoveries and create new opportunities for future growth, Kebble said. In addition, the joint-venture management structure for Morila would enable Randgold Resources to give its full operational attention to the current optimisation of Syama, its existing mine in Mali. Minrico, the entity which now houses the group's South African mineral rights, had some interesting prospects which were becoming more tangible, Kebble said. It was attracting significant interest from local and international mining companies wishing to buy or sell mineral rights, and was focusing on adding appropriate hectares to its portfolio through a self-funding exploration programme. |
