Gold Exploration in West Africa

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Mystery of the Randgold (GOLD and RANGY) shares

Nobody in the press seems to know how many shares of Randgold Resources (GOLD) are still "owned" or otherwise controlled by Randgold & Exploration (RANGY). (Randgold Resources mines gold in Mali, and has gold exploration or development properties in Cote d'Ivoire, Senegal, Burkina Faso and Ghana. Randgold & Exploration is a South African mining holding company, until recently run by South African lawyer, entrepreneur and modern-art patron Brett Kebble.)

From Mining Weekly: "Randgold Resources CEO Dr Mark Bristow, following an extensive share-register interrogation, had only been able to trace 4,4-million shares owned by R&E, but Kebble insisted that the company still owned nearly 19-million shares. “We will account for the shares in detail,” Gray promised, adding that there would be a full explanation in the statements as to where the shares were and what would be done with them.

Also in another report: "Mark Bristow, Randgold Resources' chief executive, says Randgold & Exploration owns 4.4 million Randgold Resources shares. Kebble said he has 18.9 million shares in a statement on Randgold & Exploration's Web site on Aug. 2."

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