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Strategies & Market Trends : Natural Resource Stocks

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To: semi_infinite who wrote (19855)	1/11/2005 5:59:20 AM
From: croesus1111	Read Replies (1) of 108633

Re the PE for RANGY, and its relationship to GOLD, "Randgold & Exploration Company Limited, through the activities of certain members of the Randgold Group, is engaged in the exploration, development and mining of gold deposits from African countries outside of Randblock. For the fiscal year ended 12/31/03, revenues increased 97% to $3.2M. Net income rose 32% to $36.2M. Results reflect the extension of long-term loans and a $33.2M profit on disposal of portion of investment in associate." from Reuters. So the PE appears to be mostly an anomaly, due to a one time sale, that would account for 33 out of $36 million in profit. I am not clear on the relationship to GOLD; they both appear to be major subsidiaries of the Randgold Group, but I am not sure. The revenue number in the above Reuters paragraph appears to be incorrect. The profit number appears correct based on 44.35 million shares outstanding and $0.748 per share in earnings. The price crash in this stock is an illusion because of a three for one split in May of '04. I'd appreciate reading what you find out in your research, as well as your conclusions.

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