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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (20347)12/28/2004 11:45:41 AM
From: Spekulatius  Read Replies (2) of 78594
 
Bought some RANGY. Somewhat inexplicable South African stock play. RNAGY appears to be in the exploration business for gold and diamonds in Africa and holds an portfolio in assorted South afrcian gold mining stocks. According to their 10k, the NAV appears to be at least twice the current market cap. Charts s however points relentlessly down. One factor that is impacting RANGY (and other South african mining companies) is the Black Economic Empowerment (BEE) program, that appears to force many companies to sell assets below fair market value. That does not seem to explain why RANGY is down much more than other South american stocks. Maybe Dale Baker can chip in some wisdom -he is much closer to the action.

Anyways, I took a small position today forcing me to do more research on this obscure play.
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