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Gold/Mining/Energy : SOUTH AFRICAN MINING
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To: sea_urchin who wrote (104)8/13/1998 2:14:00 PM
From: POLARBEAR  Read Replies (1) of 472
 
Hi Searle,
Thanks for the post.

You stated "Another aspect which concerns me about Randgold is that the whole show will be merged with JCI and Cons African Mines at the end of the year." Is this for certain? As far as I know, this is just one of the options they are considering. You being a local, you certainly should have better access to info than the rest of us.

Regarding your dividend comment, rangy doesn't currently pay a dividend and I don't think they will in the near future, but in the next year or so when they are earning (per share per year) more than the current price of the stock, its hard for me to see how this will be anything less than superb for the share price.

Your concern about the merger is certainly a valid one. Might we shareholders instead be given actual shares in Randgold Resources, since after RR pays its debt to rangy, we rangy shareholders will own somewhere in the neighborhood of 75% of RR? This would give us about 15 million ounces of gold...an ounce of gold for every 3 shares.

Clearly you are correct with hindsight that, on Jan 2, it would have been better to buy Durban or Harmony. The real question though is which is a better buy today. I guess only time will tell, and it would obviously be prudent for investors to spread their S.A. money among all three as opposed to just attempting to pick the best one.

Thanks again for your posts Searle. Always nice to hear what you have to say.

PB
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