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

To: dvid who wrote (223)9/20/1998 3:44:00 PM
From: baystock  Read Replies (3) | Respond to of 472
 
You don't need to scratch your head any more:
BANRO ASKS $ 1 BILLION FROM CONGO FOR SEIZED GOLD MINING CONCESSIONS
Toronto, August 27, 1998 -- Banro Resource Corporation's wholly owned subsidiary, Banro American Resources Inc., today initiated formal arbitration proceedings against the Government of the Democratic Republic of the Congo (DRC) seeking restitution for the sudden and unlawful expropriation of the Company's gold mining concessions in eastern Congo....

I am not sure whether it is really unlawful to expropriate assets. The DRC can just change their laws to make it legal. I don't believe there is any danger of this happening with RANGY. But that is the risk of investments in 3rd world countries. At least RANGY has their assets spread over several countries.



To: dvid who wrote (223)9/20/1998 6:25:00 PM
From: POLARBEAR  Read Replies (1) | Respond to of 472
 
Hi Dvid

I'll take a closer look at this when I get more time. I see that they have 10,000 km of land. Since Randgold Resources has twice that, I'm going to now value their stock at 2 Billion :)

Thanks for your post. I hope to, down the road a bit, take a look at other companies in order to compare to RR. I'd be really surprised if I find one controlling 15 million ounces selling for under 30 Million, but ya never know.

PB


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