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

To: POLARBEAR who wrote (330)	10/6/1998 6:56:00 PM
From: sea_urchin	Read Replies (1) \| Respond to of 472

PB : There was something relevant to our previous discussion in this morning's Jhb Business Day but, for some reason, their URL doesn't work. Otherwise I would have posted the whole article. Brett Kebble is quoted as saying that "A deal to include Randgold Resources in the JCI Gold structure was not on the table. He told investors he would only pursue "earnings enhancing assets." The merger of CAM with JCI Gold was "nearly imminent", he said. I'm sure you will be surprised to hear that he doesn't regard RR as an earnings enhancing asset. Let me congratulate you on your magnificent spreadsheet. You really deserve to do well on Rangy, having put in so much work. ;0)) Apropos Durban, it's my opinion that the Argonaut project will require considerable shareholder funding and, in the circumstances, I expect to see the capital increased (yet again) by a rights issue for the purpose. That the "house" is pushing the share would give an explanation why the price of Durban is "running ahead" of its tangible value and also, as you show quite clearly, well ahead of Randgold. The technical aspects of the Rangy graph which I found interesting were (1) the recent two down spikes, each associated with very much increased volumes of turnover. (2) The share price, after having been in a downtrend for a considerable time, is now keeping steady. (3)The share price is about to meet the long-term resistance line. If only by keeping steady, it will intercept the line and this will then, in my opinion, confirm the end of the downtrend. So, I wouldn't be surprised, seeing the "dog's" master is about to meet his US shareholders, that the "dog" gets up and "wags its tail"!