RANDGOLD and EXPLORATION (RANGY) Message Board

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Gold/Mining/Energy : RANDGOLD and EXPLORATION (RANGY)

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To: Claude Cormier who wrote (354)	4/15/1999 1:46:00 PM
From: baystock	Read Replies (1) of 448

There are a total of 42M shares on the JSE. Some of these shares can trade on the Nasdaq in ADR form, so they don't add to the market cap. The sponsoring bank makes money off the higher spread for the ADR's, I would think. Whether the pay back is 10 months or 14 months probably depends on where the total capital expenses fall in the $75-$115 million range being talked about. If I am not mistaken, Morilla deposit has a higher grade portion that Randgold plans on mining in the first year and this will cause the cash cost to be under $100/oz and which plays a large part in decreasing the pay back time.

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