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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (20351)	12/30/2004 1:51:35 PM
From: Spekulatius	Read Replies (2) \| Respond to of 78595

re RANGY Precious metals and miners just don't interest me, I'm afraid. Dale, i am not a gold bug either. However i do believe that in buying 1$ for approx. 35 cents. <G> Here is what I get from RANGY's 10Q (all numbers in Rand): sec.gov 27.14 Rand net asset value (per 6/30/04) translates into 4.8 US$/share. ADR to South african share conversion rate is 1:1. The bulk of RANGY's stock holding are in Randgold Resources (Ticker: Gold) which is up since 6/30/04 Almost looks too good to be true, I admit. If somebody finds a catch (beyond the management issues and a major shareholder selling out of a swap) I would like to know. Right now it looks to me that I am buying 4.8$/share in assets for 1.68$.