RANGY

[Michael]

Hi Calven,

Good luck with the bottom fishing.

I sold my last shares yesterday. It would require a lot of talent to misapprobiate the very solid assets Randgold & Exploration had but maybe Kebble was the man who could manage 

The new CEO gave an update on the forensic investigation and to be honest I didn't like the tone:

http://www.miningmx.com/mining_fin/861526.htm

Mike

[cumulina]

I am one holding on to RANGY - not really knowing why

Found a bit of news from their not very impressive web-site: http://www.randgold.co.za/investor_centre/announcements/company_news/news_060306.asp

Announcements and Media Coverage
Company Announcements
Application for liquidation
 
06 March 2006 -
The Board of Directors of Randgold and Exploration Company Limited ('RGE') advise that:

On 3 March 2006, Trinity Preferred Endowment Fund (as First Applicant), Trinity Preferred Living Annuity Fund (as Second Applicant), Greg Becker (as Third Applicant), Marten Du Plessis (as Fourth Applicant), the Trustees for the time being of the JWA Trust (as Fifth Applicant), Rory Sweet (as Sixth Applicant) and Silver Strand Absolute Return Fund LP (as Seventh Applicant), issued an application out of the High Court of South Africa purposed at obtaining an Order placing RGE into provisional liquidation claiming inter alia that it is just and equitable to do so. (The seven applicants cumulatively hold approximately 3,5% of RGE's issued share capital).
There is no basis for the application on any of the grounds proposed by the Applicants. The directors of RGE consider that the application is entirely without merit.
RGE has instructed its attorneys to file a notice to oppose the application.
It is not just and equitable that it be wound up. On the contrary, the directors of RGE believe that the proposed liquidation of RGE would be detrimental to the interests of shareholders.
RGE is factually and commercially solvent.
RGE will issue further announcements in due course of and regarding the application and re-iterates its commitment to issue draft financial statements by 31 March 2006.


We'll see what happens, I guess...

Cheers.

[cumulina]

Whopee!

I managed to find a day when RANGY was tradable, and took home a whopping $19 in profit 

Phew! This has been too exciting for me. But I'm glad I was able to sell - it looked like touch-and-go there for a while. Now watch it shoot up. 

Cheers.