SOUTH AFRICAN MINING Message Board

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Gold/Mining/Energy : SOUTH AFRICAN MINING

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To: POLARBEAR who wrote (129)	9/6/1998 4:18:00 AM
From: baystock	Read Replies (1) of 472

Polarbear, The 7.5 million shares and 14% numbers came straight out of RANGY literature. This implies that their are now 53.5 million shares. I believe this must include both the shares previously given to RANGY to pay of some debt and also the 4 million shares now being given to RANGY for the aquisition of Crown. I personally also believe RANGY is the best valued gold stock out there, which is why it is now my only gold share holding. I bought it on the hope that 3-5 years out, their subsidiary Randgold Resources will be producing 500K oz AU per year and RANGY will own 65% of it or 300K oz. Also unlike DROOY's production this will not be marginal production but reasonably low cost.

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