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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Alex who wrote (63347)	2/5/2001 8:35:27 AM
From: lorne	Respond to of 116753

The Reserve Bank blocks a merger between Randgold & Exploration and it's London-listed subsidiary Randgold Resources Shares in junior gold miner, Randgold and Exploration, jumped close to 9% to close at R4.90. This was on the back of what analysts called encouraging final results for the year to December. Randgold says the improved performance is due largely to its Morila gold mine in Mali. The mine made a cash profit of US$25 million in its first two months of operations. Earnings per share also rose over the year. But it wasn't all plain sailing for the miner. The company's hopes for a merger with London-listed subsidiary Randgold Resources have been crushed, the merger has been blocked by the Reserve Bank. But Randgold says that despite the setback, it will not give up trying to merge the companies. summit.co.za