TWILIGHT of the Hippo-Gods? WAR, RANGE

also verkaufen?

@ Goldy

Wieso, hast du noch nicht verkauft ?

ich würde mir nen put OS suchen

Placer Dome's comment is ?:

http://yahoo.reuters.com/finan…21-16-18_n29223033_newsml

Da freue ich mich aber !
Jetzt bin ich das Hippo los...,fehlt nur noch der Swanepoel !

RNG
Randgold & Exploration Company Limited - Directorate changes on the board of
Randgold
RANDGOLD & EXPLORATION COMPANY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1992/005642/06)
Share code: RNG (suspended) ISIN: ZAE000008819
Nasdaq trading symbol: RANGY
("Randgold")
Directorate changes on the board of Randgold
In compliance with paragraph 3.59 of the Listings Requirements of the JSE
Limited ("the JSE"), Randgold advises that, with effect from close of business
on 24 August 2005, the following changes took place:
Resignations
Mr R A R Kebble (in his capacity as Non-Executive Chairman),
Mr R B Kebble (in his capacity as the Chief Executive Officer), and
Mr L R Ncwana (in his capacity as a Non-Executive Director) have resigned.
Mr H C Buitendag (in his capacity as Financial Director) has retired, with
effect from the same date.
Appointments
The following directors have been appointed to the Randgold board with effect
from the same date:
Mr P H Gray (Chief Executive Officer); and
Mr J C Lamprecht (Financial Director).
Proposed new appointments
Mr D M Nurek Independent Non-Executive Chairman
Mr S E Abrahams Independent Non-Executive Director
Mr D E Jowell Independent Non-Executive Director
The abovementioned proposed appointments will be advised in due course.
An additional non-executive director will also be appointed in due course.
The Randgold board as currently constituted is as follows:
Peter Henry Gray Chief Executive Officer
John Chris Lamprecht Financial Director
Matsehoa Brenda Madumise Independent Non-Executive Director
Andrew Christoffel Nissen Independent Non-Executive Director
Listing of Randgold
It is anticipated that Randgold"s audited annual report will be posted to
shareholders on or about 15 September 2005, at which time Randgold will apply to
the JSE for the suspension of its shares on the JSE to be lifted.
30 August 2005
Johannesburg

Die armen Hippos wurden rausgekegelt.

It is official: the embattled Brett Kebble has stepped down as CEO of Western Areas, Randgold & Exploration (R&E) and JCI Limited, but has clung to a non-executive directorship at JCI.

At JCI, Charles Cornwall, Roger Kebble, John Stratton and Hennie Buitendag have also been removed. And at R&E, Roger Kebble, Lunga Ncwana and Buitendag have stepped down.
http://www.mineweb.net/sections/mining_finance/477832.htm

Kein Wunder, daß der Goldpreis heute so stark gefallen ist.

Und bei South Deep haben sie schnell noch 10 Mio Unzen weggezaubert.

Kebble entthront
[Blockierte Grafik: http://www.miningmx.com/cm_pic…_us/1559-0-0-0_200983.jpg]
...
Key question is whether Brett Kebble can pick himself up from what amounts to his third major setback since he burst onto the mining scene in the mid-90’s.

The first two were the original demise of JCI in the late 1990’s when he was running it with Mzi Khumalo and then his loss of Randfontein Estates to Harmony.

This time around he has lost control of his last real assets - South Deep and Letseng - and also, it seems, the support of father Roger who is now running gold company Simmer and Jack. Last week Simmer and Jack pointedly stressed that it had "effectively distanced itself from the influence of the JCI group."
http://www.miningmx.com/mining_fin/477782.htm

was die dame wohl sieht...

Deine Kommentare auf den Goldseiten Forum wahrscheinlich, Goldy.

Gold Fields to back Aflease bid for Sub Nigel

http://yahoo.reuters.com/finan…13-59-02_l31573798_newsml

Aufstieg und Fall von Brett Kebble

Brett Kebble has resigned and returned to head up Western Areas once before. Will history repeat itself? We take a look at the history of Kebble jnr and the sequence of events that led to yesterday's announcement.

1964 Born in Springs, South Africa
1981 Obtains a first-class Matric from St Andrews School in Welkom
1988 Graduates with a law degree from the University of Cape Town
1991 Joins his father, mining engineer Roger Kebble, to purchase a controlling stake in Rand Leases Gold Mining
1994 Helped engineer the takeover of Randgold & Exploration
1995 Purchased a controlling stake in JCI
1996 Sold half of Western Areas' South Deep mine to Placer Dome

[Blockierte Grafik: http://www.miningmx.com/pics/gold_silver/kebble1.jpg]

Weiter...

Loulo

Randgold is now in the final stages of commissioning its second gold mine, Loulo in Mali. Bristow expects this mine to begin open pit production next week, and sees the challenge now as optimising the exploitation of the Loulo ore body by commencing underground mining in addition to the working of the open pit. Detailed planning work is underway for an underground operation, and the company is targeting early next year for the initiation of construction, which should then take about 14 months to complete and will up Loulo’s production appreciably.

Morila

Randgold’s first mine, Morila, a joint venture with Anglo Gold also located in Mali, is undergoing a few changes. A labour strike having just been cleared, relations between the mining contractors, the workforce and the joint venture partners at Morila are being rethought somewhat to try and prevent a recurrence.

A new Managing Director of the joint venture has been appointed at the behest of Randgold, and this may assist in the control of Morila’s costs, the escalation of which Bristow describes as a major personal concern, though this is admittedly as much a reflection of his generally cost conscious attitude than of the severity of cost issues at Morila. Efforts to constrain costs hinge around improving the throughput of the mill in order to extract most efficiently the high grade ores being processed.

Anglo Gold and Randgold have also agreed upon a near-mine exploration strategy, which has overcome the former’s reluctance to allocate funds to exploration at Morila and which may see significant new resources discovered. The programme is being overseen by a new Chief Geologist in whom Bristow claims to have “tremendous personal belief.”

Tongon

In seditious Cote d’Ivoire, Randgold retains a number of interesting projects to which it cannot currently gain useful access. One of these is the Tongon project, which Bristow identifies as of particular importance and which he “wants to have up and running by 2010, producing around 200,000oz/yr.” The priority for Randgold until its properties do become accessible is to prevent harmful encroachment onto them by liaising with the current authorities in Cote d’Ivoire.

Cote d’Ivoire is slated to hold elections, which may lead to a period of relative stability and allow Randgold to work on its projects, in October, though Bristow believes that these are unlikely to go ahead, instead expecting them some time in 2006. Assuming access is eventually gained to the Tongon property Bristow expects gold production through bulk mining to be practicable for around $250/oz, thanks to the deposit’s moderately low stripping ratio and the area’s pre-existing infrastructure.

Tanzania Joint Venture

Randgold recently agreed a joint venture with the government of Tanzania, a development which Bristow describes as “very exciting” for the company. The ground concerned is historically prospective and the agreement may lead to renewed exploitation of the Kiabakari gold deposit, which previously supported Tanzania’s third largest colonial ere gold mine.

Exploration

Randgold intends to maintain a broad Africa focused exploration effort, and the company is today involved to this end in a host of countries. Those that presently stand out according to Bristow are; Senegal, where drilling of “extremely well defined targets” is ongoing; Burkina Faso, where Randgold has built up a strong real estate position in order to lock down for exploitation any discovery that may be made; and Ghana, where a joint venture covering land of interest is in the works.

Exploration in the vicinity of the Loulo mine is also said by Bristow to be looking very promising and could even lead to the discovery of another deposit entirely, perhaps of similar size to Loulo itself, which would amount to quite a coup for Randgold.

Corporate Action?

Rumours have swirled recently of a corporate deal involving Randgold, but Bristow states that nothing is on the cards at this time. The company reportedly “looks almost constantly” at making acquisitions, but has not yet found a deal that it believes would add genuine value for shareholders. Bristow imparts that he wishes Randgold to gain a third mine somehow or other as soon as possible, but says that such an asset will not be bought ready made unless it is keenly priced. This is not to say that an acquisition will not take place in the future, but for now Bristow believes that exploration is the most cost effective way for Randgold to grow.

As to whether a major has Randgold in mind as a bid target; it is possible. Randgold’s share price has recently come off from this year’s highs by almost 10%, making any bid a slightly less expensive proposition, and the company is in a strong position from which to expand. However, it may still be considered too speculative for a major looking primarily to add solid producing gold ounces, or too well valued for an acquirer looking to secure covetable assets on the cheap.

Investment Outlook

For investors happy with general exploration hazard and the political risk of operating in Africa, shares in Randgold might still represent an interesting venture, despite having already exhibited strong growth overall so far this year. The company has proven its mine making ability, first with Morila and now with Loulo, and has a large number of early stage prospects across Africa that may offer the potential for it to repeat those feats to the benefit of its shareholders.

Does Kebble know something he had better explain?

By: Barry Sergeant
Posted: '06-SEP-05 14:49' GMT © Mineweb 1997-2004

JOHANNESBURG (Mineweb.com) -- How many individuals know the intimate details of $200 million worth of “missing” Randgold Resources shares in the Brett Kebble debacle? Those shares were once, and may still be, owned by the Kebble clan’s Randgold & Exploration. But that is not immediately clear.

Fact is that it is becoming increasingly apparent that, apart from Kebble and his associate, scertain auditors may well know most of the full story. And; by default, so would certain bankers.

The fact also remains that, despite many requests for clarification from analysts and the media, Kebble and the companies he oversaw have baldly refused to divulge details of those “missing” shares. The result has been a slew of conjecture and rumour. And among that slew is the startling suggestion (and it is no more than an ill-informed suggestion) that they may have been misappropriated.

All that is needed to put paid to the rumours would be for Kebble to come clean or, at least, explain just what is going on. Openness would help protect his reputation from being tarnished or his name from being maligned. But, of course, as yet he has chosen silence. Worse, he has effectively gone into hiding, adding to the suspicions of some or other malfeasance.

Worse still, the audit firms whose responsibilities are to the companies’ creditors and shareholders, appear to have been witting or unwitting parties to the secrecy. Have they been gulled into believing that the Rangold Resources shares actually still belong to Rangold & Exploration when they have been moved out of the company’s control or ownership?

Which is where we come face to face with the enigma that is Kebble’s way of doing business. No serious stockbrokerage provides investment analysis of the Kebble companies. The tangled web of their structures and the fleet-footed management style that has characterized his progression through South Africa’s corporate landscape have been enough to deter even the most foolhardy share tipster. And the “disappearance” of the Randgold Resources shares is yet more confirmation that the investment analysts’ reluctance to make recommendations on companies under Kebble’s control has been the correct approach.

So where does that leave us? On the brink of one of South Africa’s more egregious corporate scandals? Or with egg on our faces for having overlooked simple and credible explanations?

The formal August 30 announcements by the three listed companies from which Brett Kebble stepped down as CEO - Western Areas, JCI Limited and Randgold & Exploration (R&E) - are also well-known for installing Investec-related men in eight board positions at the three companies.

Investec provided a facility that can only be characterized as a lifeline for the triumvirate of inter-related companies. However, the August 30 announcements were silent on the status of the so-called 14.4 million “missing” shares R&E insists that it holds in Randgold Resources, a separate company listed in London and on Nasdaq, a US exchange.

However, again, the announcements gave vital clues as to how the “missing” shares, currently worth $200 million, could be tracked down. JCI’s auditors, Charles Orbach & Company, have been immediately replaced by KPMG, the standing auditors to Western Areas. Somehow, by September 30, KPMG will be appending its corporate name to audited results for JCI’s 2005 year to March 31.

The change in auditors at JCI does nothing, however, to explain the change of auditors at R&E. The R&E 2003 annual report, to December 31, was signed off by PriceWaterhouseCoopers (PWC). The auditors somehow disappeared from the R&E scene during calendar/financial 2004; R&E’s unaudited half-year results were not signed off, or reviewed, by any auditors at all.

It subsequently emerged that PWC had been replaced at R&E by Charles Orbach & Company, whose appointment as auditors to R&E remains, by all accounts, in place.

On April 29, 2005, R&E released its preliminary results for the year to December 31, 2004. The results, according to an R&E announcement of the same date, had “been reviewed by our auditors, Charles Orbach & Company, and a copy of their
unmodified review report on the financial statements contained in this preliminary report is available for inspection.”

Since then, R&E has been unable to produce an annual report, and was suspended from the JSE on August 1. JCI was suspended on the same day for similar reasons.

R&E’s April 29 announcement states quite clearly that R&E holds 18.4 million shares in Randgold Resources. However, on June 30, 2005, Randgold Resources filed its “20-F” annual report with the Securities & Exchange Commission (SEC) in Washington. On page 65 of that filing, Randgold Resources stated in footnote two that Randgold Resources Holdings (RRH) (through which R&E holds its Randgold Resources shares) had filed a Schedule 13G/A on February 14, 2005, which reported beneficial ownership of 18.4 million Randgold Resources shares, or 31% of Randgold Resources’s total outstanding ordinary shares.

Randgold Resources stated categorically in its filing with the SEC that “we have asked [RRH] for documentation supporting its claimed holdings, which to date has not been provided.” In simple terms, it meant that R&E held or holds just 4 million shares in Randgold Resources, explaining the “missing” 14.4 million shares.

In an interview with Mineweb on July 7, Kebble said that 9.9 million Randgold Resources shares (of the missing total of 14.4 million) were lent by R&E to Inkwenkwezi, a black economic empowerment (BEE) entity, primarily for the purchase of the Anglo American shareholding (19 million shares) in Western Areas.

Kebble conceded, however, that the 9.9 million Randgold Resources shares “lent” had been sold, but insisted that the shares would absolutely be returned to R&E in mid-2006. More specifically, the 9.9 million shares were lent by R&E to Bookmark Holdings, a BEE entity itself, to help fund the acquisition by Inkwenkwezi Gold of a 15% stake in Western Areas from (mainly) Anglo American.

However, according to Kebble on July 7, Inkwenkwezi was still finalising the purchase of the 19 million shares in Western Areas. Yet the 2004 Western Areas annual report (covering the 12 months to December 31, 2004), signed off in May 2005, categorically states that Inkwenkwezi “acquired an effective 11.6% of the equity of Western Areas.”

It is of parallel interest to a number of investors that on August 20, 2004, Stephen Tainton joined the board of R&E, having “effectively headed up the worldwide exploration efforts of JCI and its various subsidiaries for the last several years.” When Tainton resigned from the R&E board with effect from April 6, 2005, no reasons were given.

So, Kebble would be best advised to be open or come clean with the shareholders and creditors whose interests were under his watch. His continued silence will simply stoke the fires that are blazing in the furnaces of the rumour mill.

The shares have either been shifted in yet another of Kebble’s convoluted corporate restructurings, or they remain in place though overlooked or they have been sold and the resultant cash can be clearly accounted for. For the present, only Kebble and his associates who were paid enormous salaries and fees seem able to clear up the situation.

Diese Gangster wie Kebble und Swanepoel sollte man aufhaengen vor ihren eigenen Minen. IMO

Shares worth $200 million have disappeared from view

By: Barry Sergeant
Posted: '05-SEP-05 16:00' GMT © Mineweb 1997-2004

JOHANNESBURG (Mineweb.com) -- Two months ago to the day, Mineweb published an article titled “Kebble’s R1.4-bn conundrum,” detailing “the two sides of how 14 million shares in Randgold Resources, worth $200 million, have apparently gone walkabout.”

There is still no clarity on the shares’ whereabouts.

The original article detailed how 14.4 million of 18.4 million shares Randgold & Exploration (R&E) held in Randgold Resources (a separate company, listed in London and on the US’s Nasdaq) had been “lent” into a black economic empowerment (BEE) transaction, but could not be properly accounted for.

On July 8, Mineweb published a follow-up to its July 5 article, based on an extended interview with Kebble: “R&E CEO Brett Kebble assures that the 18.4 million shares in Randgold Resources are as safe as a palace.”

To this day, there is no further detail on exactly what happened to the “missing” 14.4 million shares in Randgold Resources. There is no question about it: $200 million is a huge amount of money, and even bigger considering that it belongs to shareholders of a listed company.

On August 15, in “Fear and Loathing in Kebbledom,” Mineweb, noting that R&E had crashed 15% on the Monday of that week on Nasdaq, detailed how investors were gathering for an “asset-strip of Kebble-related companies.”

On August 19, in “Mutiny on locked-up bounty,” Mineweb detailed how it was that banks and institutions were offering an R800 million “lifeline” on condition, it was said, that Kebble stepped away from CEO positions of three listed stocks, R&E, JCI and Western Areas.

On August 30, in “Kebble 1, Investec 8,” Mineweb noted how Investec had swept eight board positions at R&E, JCI and Western Areas on the day Kebble stepped down as CEO of all three. That was followed up by an exclusive interview with Stephen Koseff, CEO of Investec, where a number of really tough questions were put and taken.

To this day, to repeat, the most important question in and around the Kebble debacle relates to how the 14.4 million shares in Randgold Resources went “missing,” and perhaps more important, who benefited from the proceeds.

Of the 14.4 million shares under question, as noted by Mineweb on July 5, 9.9 million were lent to Inkwenkwezi, a BEE entity, primarily for the purchase of Anglo American’s 19 million shares held in Western Areas. On July 7, Kebble conceded that the 9.9 million Randgold Resources shares “lent” had in fact been sold, but he also assured that the shares would absolutely be returned to R&E in mid-2006.

More specifically, the 9.9 million shares were “lent” by R&E to Bookmark Holdings, an empowerment vehicle set up to help fund the acquisition by Inkwenkwezi Gold of a 15% stake (17.7 million shares) in Western Areas from (mainly) Anglo American. Mineweb stated that the “missing” Randgold Resources shares “disappeared into a swamp occupied by two names, Bookmark, and a key BEE entity, Inkwenkwezi.”

Again, Mineweb stated on August 15: “However, beneath this seething morass, the links lead back to Inkwenkwezi. It was the 2004 JCI annual report (to March 31), signed off in October last year, which contained clues about the current meltdown in Kebbledom.”

According to JCI, on June 9, 2004, JCI and R&E undertook to lend Inkwenkwezi “sufficient Western Areas shares” to raise the necessary funding for the acquisition of 13.7 million Western Areas shares (11.6% of the total) from Anglo American. Inkwenkwezi, it was said, had to pay Anglo American by November 1, 2004.

Just a few paragraphs later, JCI stated that ‘Inkwenkwezi has a 12-month call option on the Randgold shares,’ yet nowhere else in the annual report were the ‘Randgold shares’ explained. It was apparent from Kebble’s interview on July 7, 2005, that Inkwenkwezi’s 12-month call had been extended from mid-2005 to mid-2006.

According to the Anglo American annual report for 2004, the group disposed of a holding of 8.5% (10 million shares) of Western Areas for $48 million in December 2004. The name of the buyer is not disclosed.

Yet the 2004 Western Areas annual report (covering the 12 months to December 31, 2004), signed off in May 2005, categorically states that Inkwenkwezi “acquired an effective 11.6% of the equity of Western Areas.”

The Western Areas annual report also states: “Inkwenkwezi empowerment transaction successfully restructured and required financing imminent” and “Discussions with an institution to finance Inkwenkwezi’s obligation are progressing, and should be satisfactorily concluded shortly.”

On April 29, it emerged in the R&E preliminary results for 2004 that 9.9 million Randgold Resources shares had been “lent” to Inkwenkwezi. On that day, too, investors were told that Inkwenkwezi’s intended purchase of 19 million Western Areas shares from Anglo American was “currently” in its final stages.

It is quite clear that somebody is not telling the truth. On August 15, Mineweb said that when R&E finally files its 2004 “20-F” annual report with the US’s Securities and Exchange Commission (SEC), “it would be some kind of an ugly swamp creature.” On new information, the filing date could be as early as September 15, and with a restructured board, the 20-F could be less ugly than anticipated. But the fact remains: $200 million is a lot of money.

R&E’s selling down of its stake in Randgold Resources, which was as high as 100% in 1997, has never stopped. As noted by Mineweb on August 15, R&E’s exact existing stake in Randgold Resources was, by all accounts, the “finger on the trigger of pending asset strips in Kebbledom - R&E itself, along with JCI and Western Areas. Kebble ran each as if each were part of an indivisible back yard.”

Today, it would take $201 million to replace the “missing” 14.4 million shares in Randgold Resources. That is lots and lots and lots and lots of money, but who benefited from the sale in the first place? Of the new Investec figures put into the devastated Kebble companies, David Nurek has gone in as independent non-executive chairman of R&E, and Donn Jowell is there as independent non-executive director.

Nurek and Jowell have peerless track records in corporate governance and their combined technocrat (among other) skills will be turning out details on the missing Randgold Resources shares, in due course. Watch this space.

Tambok

Lassen wir die Hippos im Raum stehen, fuer mich sind sie eben Crooks, da waere ich vorsichtig mit solchen CEO's von Corleone's.

......

"Man sollte nur die Kebbkle-GM vollständig und gleichmäßig
im Depot haben. Weil es zu Verschiebungen kommen wird."
----------

Klar "verschieben" die Kohle wenn sie es koennen und verabschieden sich dann mit besten Gruessen von RSA.

Hier geht alles, und viele sind korrupt, eine Hand waescht die andere,
beide das Gesicht, und jeder linkt den andern in der Mehrzahl.

Solchen Mafiosi brauche ich bestimmt kein Geld vertrauen und wenn dann mit Vorsicht bei der Spekulation mit Randpoker die du machst, Tambok.
In mein Depo brauche ich die Kebbles nicht, aber jeden das seine.

Ich sitze noch auf GFI , Range,DisHarmony und DRD, da reicht mir hier im Zirkus RSA.

Ich bin froh wenn ich noch heil rauskomme aus der RSA Goldminen Saga und der "multikulti utopie" politik hier.

Ich gebe Dir recht das es Gold wert ist wenn die Hippos weg sind.

Mfg

XAX