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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: jimsioi who wrote (25563)	1/14/2003 4:10:59 PM
From: isopatch	Read Replies (1) \| Respond to of 36161

Jims. No. Wish I did. Guess my position size has gotten too large, as my account has grown. When I tried to get back in in the hi 7s lo 8s, many months ago? MM stone walled me at least a 1/2 dozen times. Heck, I'd hit the offer with a much smaller order than I was getting filled in EENC, CRZO and the others. But with CRED my order would immediately become the bid ASA it arrived. Then I'd sit there I'd sit all day without a fill.<lol> Have to have a sense of humor about those things. What happens, happens. You just move on. Any 2nd thoughts about selling your EENC before the big runnup in the past few months? Isopatch

To: jimsioi who wrote (25563)	1/14/2003 5:08:55 PM
From: big guy	Respond to of 36161

Got stopped out today. This is the latest on them that I have seen. Nothing real solid as far as support goes until $8. >Randgold gains not yet capped By: David McKay Posted: 2003/01/08 Wed 18:00 \| © Mineweb 1997-2003 JOHANNESBURG – Randgold & Exploration [JSE:RNG] was the second best performing gold share in Johannesburg last year partly helped by the stellar performance of its main investment, a 48 percent stake in US-listed Randgold Resources [NASDAQ:GOLD]. The listed subsidiary closed down its unprofitable mine, Syama, and concentrated on extracting full value from its 40 percent held Morila, a mine located in West Africa’s Mali. Only The Afrikander Leases (166 percent) outpeformed Randgold & Exploration which gained 126.64 percent closing the year at R24.25 compared to its open in January 2002 of 10.70 a share. It reached an intraday high of R25.50 a share during May but it has already surpassed that level in the first few trading days of this year surging to a new high of just over R26.00 a share. This is notwithstanding the strengthening in the rand, a development that will take the gloss off the increase in the dollar gold price through the psychological $330 per ounce level at the turn of the year. The performance of Randgold & Exploration must be largely driven by short-term fundamentals since there is considerable uncertainty about the longer term future of the company. Its grip on Randgold Resources, for example, is being loosened. Last year, Randgold saw its stake in Randgold Resources reduced to 48 percent from 58 percent (with the option to reduce to 34 percent in the future). This was amid the launch of Resources’ ADR and attempts to differentiate it from its parent company, Randgold & Exploration. In fact, analysts once expected Randgold & Exploration would be wound up amid plans to consolidate it with a number of associated companies. But these plans have been so long overdue that market watchers wonder whether Randgold will ever deliver on its ambitions. If it does, according to one analyst, the group will have a net asset value of R30.00 which is roughly a fifth higher than its current share price of about R26.00 a share, and triple the level of the share at the beginning of 2002. "Randgold & Exploration is not about financial results; it's an NAV story. But will they consolidate?," one analyst says. Randgold & Exploration's last published NAV, in June 2002, was R25.00 a share. Shareholders were similarly immune to the activities surrounding Randgold chairman, Roger Kebble, who faces two separate dates in court in respect of criminal procedures that were brought against him by the Directorate of Public Prosecutions, and Durban Roodepoort Deep, a company in which Kebble was once chairman. Both cases refer to alleged corporate governance abuses and could damage the future of Randgold & Exploration. On the positive side, Randgold & Exploration’s performance could be positively affected by its considerable mineral rights holdings in unlisted entity, Minrico. Kebble has promised to bring Minrico to account. It may now hold a trump card given the recent proclamations by government on encouraging black empowerment. Liquidity will also be boosted in Randgold & Exploration as 17 percent shareholder, Western Areas, said it would sell its holding in order to finance its own development plans. m1.mny.co.za