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Gold/Mining/Energy : Gold Price Monitor

GDXJ 90.47

+0.5%

Nov 6 4:00 PM EST

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To: John Hunt who wrote (32908)	4/30/1999 12:01:00 PM
From: sea_urchin	Read Replies (1) of 116752

John : You must not ask me my opinion about DROOY/JCI Gold/RANGY as I am prejudiced. Yes, I read that story in this morning's rag. This is what caught my eye :" Some analysts said the $235m paid by Canada's Placer Dome for a 50% interest in Western Areas was becoming increasingly important. This money had not yet been remitted to SA and remained in hard currency offshore. Some Western Areas shareholders would want to be compensated for their stake in the companies. The analysts were unsure what paper would be exchanged in the buy-out, although if Randgold Resources was the vehicle for the new structure, shares in the company would be coupled with some form of cash payment, possibly out of the $235m." These funds have nothing to to with Randgold --- they arise from the sale of Western areas shares by Western Areas, itself. Randgold was not even a shareholder. But, presumably, with father and son wearing the same pair of pants, either can put his hands into the other's pocket and take out what he finds! DROOY is busy hunting for some Australian goldmines. You posted their story a few days ago when the CEO was interviewed.

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