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Gold/Mining/Energy : SOUTH AFRICAN MINING
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To: POLARBEAR who wrote (85)8/1/1998 7:13:00 PM
From: baystock  Read Replies (1) of 472
 
Based on your post and what I remember, I calculate that RANGY will own the following of DROOY:

Previously 12% of DROOY => 4.8 million
Debt repayement => 1.42 million
If Crown purchase goes thru => 50 % of 5.9 million = 3 million ?

This adds up to 9 million shares, which is quite a bit. But the question is, will RANGY have to sell their DROOY shares to pay of their debt ? This is the debt they assumed so that they could lend the money to Randgold Resources.

Ram
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