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Gold/Mining/Energy : RANDGOLD and EXPLORATION (RANGY) -- Ignore unavailable to you. Want to Upgrade?

To: POLARBEAR who wrote (232)	1/29/1999 2:01:00 PM
From: baystock	Respond to of 448

<<Meanwhile, latest drilling results at the company's Morila project in Mali have doubled estimates of the deposit size. Measured and indicated resources now stand at 3.2 million ounces, and preliminary pit modelling has indicated that most of this can be promoted to the proven and probable category. The ore body is still open and additional diamond drilling is planned. >> PB, This is great news, especially welcome during this depressing time for gold share investors...3.2 million oz and growing! Morilla is going to become an incredible cash cow for RR. This will actually allow it to prosper during these lean times for gold mining companies. If Morilla is in production by early 2001, it means that the full value of Morilla will be reflected in RR's share price by then at the latest. This value should also carry over into RANGY's NAV. Ram

To: POLARBEAR who wrote (232)	1/30/1999 4:12:00 AM
From: baystock	Read Replies (1) \| Respond to of 448

Resources at Morila have also doubled from 2 million oz to over 4 million oz: randgold.co.za The orebody currently has dimensions of 520 metres north – south by 690 metres east – west and is up to 160 metres in width. The body is located at surface in the west, dips eastwards and attains a depth below surface of 220 metres. It is still open to the north . The northernmost line of diamond holes returned intersections of 85 metres at 7.45 g/t (San 107) and 29 metres at 2.37 g/t plus 26 metres and 2.62 g/t (San 108). Additional diamond drilling is planned during the next quarter for the northern extensions. The resource estimate has been revised to incorporate the latest drilling information and now stands at 4,25 million ounces. Measured and indicated resources comprise 3.2 million ounces and preliminary pit modelling indicates that most of this will convert to proven and probable reserves. This will significantly increase the reserve statements published in November 1998. The full bankable study will be completed in March 1999. Ram