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Gold/Mining/Energy : SOUTH AFRICAN MINING -- Ignore unavailable to you. Want to Upgrade?

To: POLARBEAR who wrote (106)	8/13/1998 4:26:00 PM
From: sea_urchin	Read Replies (1) \| Respond to of 472

Yes, you are correct, Polarbear --- the proposed merger was only ONE of various options. I quote from a recent Star newspaper cutting, which I have kept (luckily!): "Randgold, the mining house, would be restructured by the end of the year and COULD be merged with JCI and Cons African Mines, Roger Kebble, the Chairman, announced at the weekend." "Our original strategy for Randgold has been fulfilled and the future of the company is therefore under review at the moment, with a number of options on the table, Kebble said" "Given the common shareholders, some form of rationalization between Cons. African Mines, JCI and Randgold is obviously one of these." "Although no decision had yet been made, the company hoped to finalize the situation by the end of the year." "Randgold would then only consist of its investments in Randgold resources, the London-listed exploration company, and Durban Deep." So, although nothing is definite, the expressed intention gives one some idea of what is likely to transpire. As regards investments from here out, I must reiterate that I am no expert on anything but this evening on local AM radio Nick Goodwin, who is hailed as a gold guru, was interviewed. He said that, despite the recent setback in the gold/shares, he is VERY bullish and offered a portfolio to interested investors: Anglogold 30% Goldfields 30% AVGold 10% Randfontein 10% Durban Deep 10% Harmony 10% I note, although he mentioned some of your favorites, he did not include Randgold. You will also observe that 60% of the portfolio is high quality mines and the remaining 40% is in lower-grade, speculative mines which I presume he considered to be a desirable balance. For your information, I have investments in Anglogold, Goldfields (via Gencor), Avgold and Harmony.