Beiträge von Eldorado

Chart 3 (a monthly chart) is where the dollar signals (specifically the PMO) the beginning of a long term bull. The dollar index bounced off its low of approximately 80, four times in the last twenty years. But, look at the PMO during the early months of 2005 - coming off an extremely oversold position, it has crossed over (blue line over the green line) - a positive signal - and is trending up. Is this the beginning of a long term bull market for the dollar?

http://www.gold-eagle.com/editorials_05/rross081705.html

frr

""Ausserdem glaube ich kaum dass Canaccord's Peter Brown 7.5 Mio $ ausspuckt, wenn er nicht von Co. überzeugt wäre!""

IMA Finalizes $7.5 Million Bought Deal Financing

Genau so ist es , wer wuerde schon das Projekt finanzieren wenn AQI solche Chancen hat es sich unter den Nagel zu reissen.

Mfg

Eldorado

Ja, ihr habt schon Recht aber wenn ihr auf den POG und Dollar schaut geht es "momentan" in die Richtung wie Guru M es angekuendigt hat.

Ich lege noch in den naechsten Tagen mehr Silbercalls nach, es kommt mir Spotbillig vor.

XEX

Dear Members,

Morning 7.00 am in Dubai and I decided to write alert. Here is my view so act according without wasting any time.

The stock market finally gave signs for which I have been waiting. For the first time yesterday, all major stock markets sharply went down on a positive day. This is an indication of a major fall to ensue in the near future.

Oil prices are higher and I see them falling sharply from the last week of August (indeed, even the current period is not a very good one). The fall in oil prices may result to a little buying in the market. However, do not buy during that period because the fall of oil will not have any positive impact on the stock markets.

The Dollar is on the march and will continue to rise unimpeded as none can hold it back. Indeed, its next target is USD/INDX 94.50, while the Euro will break 118.20 in the following months.

Gold is also on the rise and each rise should be taken as a selling opportunity (sell..sell...sell). As a matter of fact, one should only buy if it stays above $456 (December gold) for three days.

COPPER AND OIL LOOK QUITE SCARY AND THOSE WHO DO NOT WANT TO TAKE A RISK CAN SELL IN THE LAST WEEK OF AUGUST.

THANKS & GOD BLESS

Mahendra 17 August 7.00 am Dubai

Ja des gfreit die wieda Goldy, mi aber net !
Das letzte Aufbaeumen des Dollar ist es nur, danach gehts unter die 85.
Kauf Dir meinetwegen Dollars mit Omas Geld,damits auch eine Freude hat.
Spaetestens ab 2006 gehts dann wieder heftig runter,darauf kannst Gift nehmen.

"Wenn Leute wie ich ein Währungsregime stürzen können, stimmt das System nicht.".......George Soros

Gnight

XEX

TT-Driver

Sei Dir da nicht sicher, es sei denn du kennst den Richter.
Time will tell, ich habe ja ein paar AQI, rein aus Spass am Prozess.

XEX

mit steigender Tendenz

Hallo Tschonko

Ist ja lustig, von Silver Syndicate auf Dollar 99 Moebel Stores.
Vielleicht hatten die so viele Baeume abgeholzt bei ihren Minen das sie in das Geschaeft besser reingehen.

Der Anstieg vom Kurs heute ist auch ein Hammer.
Der Hommel hat einigen Krusch auf seiner Liste,bin froh das ich nicht alle habe.

Ist ja wie bei Ikea

The 99 Dollar Stores, Inc. prides itself on having one of the furniture industry's freshest new marketing concepts, selling quality furniture for $99 or less.

Gnight

XEX

Diese Chart von Goldy kommt mir bekannt vor, war die nicht von ?....
....einen alten Bekannten den wir alle kennen.

So gehts ja , da ist nichts verkehrt

Mfg

XEX

Nicht schlecht, bei 92 cents war ich einkaufen,trotz des fallenden HUI und POG macht nun Range einen guten Eindruck heute bei 1.03 USD.
Aber man soll den Tag nicht vor dem Abend loben, morgen ist ja auch noch ein Tag und da wird sich mehr zeigen wo es lang geht.

Mfg

XEX

@ Edel Man

Weisst du ich bin immer vorsichtig gerade wenn es um Muslims oder Hindus geht da habe ich meine Erfahrungen gesammelt.
Die besten Schauspieler und Trickkuenstler koennen die sein.
Mein Abo ist eh bald zu Ende und ich erneuere es nicht da seine News nun zu teuer kommen.
Kann sein das man ihn gekauft hat und er "enlighted" ist.
Ich fuehle mich jedoch mit ihm nicht mehr so sicher als vor einem Jahr.

In California im schoenen Santa Monica gibt es viele reizvolle Sachen.

Mal schaun ob er das Bulleye trifft.

Cheers

XEX

Der Guru und Sinclair waren mal dicke Freunde, jetzt teilen sich die Meinungen wie auch hier. Der Guru kommt mir immer mehr verdaechtiger vor als haette er die Lager gewechselt denn jeder hat ja seinen Preis.$$$. Jetzt kommts drauf an ob nun seine Vorhersagen auch wirklich passieren dann kann man eher feststellen ob er noch ein freier Guru ist der klar sehen kann.

Habe gerade einen Alert von ihm bekommen, er sagt das bald Oil und Kupfer faellt und der Dollar innerhalb von drei Wochen auf 1.182 USD/Euro ansteigt. Mit Gold meint er das bei ca.456 USD man Gewinnmitnahmen machen sollte und erst Gold wieder kaufen bei Dez 06 Goldfutures ueber 456 USD. Schwer zu glauben aber wir sehen frueh genug ob er mit seiner Prognose Recht hat oder nicht. Man kann darueber lachen oder nicht, es ist momentan viel zu rosig das man glauben kann es bleibt so, IMHO. Das PPT wird was machen muessen, ich erwarte ebenfalls eine raffinierte Gegenaktion in den naechsten Tagen. So lange Greenspan am Ball ist werden die sich wehren und den Markt austricksen, da man den alten Mann nichts anhaengen will.
Zwischen Greenspan und den neuen Chairman passierst, keiner kann was dafuer.
Ich freue mich an den Tag wenn der DOW einwandfrei unter 10.000 faellt und 40% in den Kelller geht fuer die naechsten Jahre.
Erst unter 10.000 geht die Post erst ab mit dem Goldpreis. Am Anfang kann es die GM Aktien mit runter reissen,jedoch nicht den POG.Ich schaetze das passiert erst in 2006 und bis dort hin..
Business as usual...

Mfg

Eldorado

Thats it !

History does not repeat itself, but it rhymes"

Gnight, over and out

XEX

@ Germoney

Danke fuer diese Tipps ich werde mich bemuehen.

Jedoch bin bestimmt kein Phsyciater hier wenn Bull (IMHO) daherkommt und lege sie Herren noch auf die Couch.
Ich habe ebenso meine Emotionen und bin sozusagen ein Mensch der "gerade aus" ist.
Wer meinen Humor oder Witze nicht versteht der soll am besten in den Keller gehen und spaeter lachen wenn er kann.
Ich bin ein freier Mensch der sich seine Meinung schon laengst gebildet hat und sich nur mehr selber was etwas beweisen muss.
Ich lebe und reagiere nach meinen Erwartungen und bestimmt nicht nach anderen.

Manchmal habe ich einfach keinen Bock/Zeit dass ich sauber ueberlegt und mit ""durchdachten"" darauf antworte, noch dazu auf Kommentare von frustrierten oder veraergerten Leuten vom anderen Lager die eine bad Karma haben und sie dann loshaben wenn ich mich/euch dann aufrege. Aufregen ist nicht gesund und diese Leute sollen ihren K- Eimer behalten. Ich mag auch keine Leute die eine gute Stimmung ruinieren wollen, verstehst du das ?

Ich bin bestimmt kein Ventil oder Abfalleimer fuer feindseeligen Leuten und reagiere manchmal anders als du vorschlaegst.

Ich habe kein Problem jemanden Futzek zu sagen wenn er mir auf den Keks geht.
Das Wort versteht jeder in RSA ! :D, selbst ein Zulu.

Ich bin in der University of Life und habe schon einiges erlebt und gespuert, da brauche ich keine Oberlehrer und Vereinsmeierei die glauben sie sind die Oberschlauen auf der verrueckten Welt in der wir leben.

Ich bin es bestimmt nicht, man lernt naehmlich nie aus, erst wenn das Leben vorbei ist auch die Lektion vorbei.

Danke fuer deine Buchtipps, ich lese gerne alte Weisheiten falls ich nicht am Computer sitze und Geister antworte.

History repeats itself, just watch it .

Gold and Silber will be back ! :))

Gruss

Eldorado

Ps. Mein Buchtipp ist... weil er so nuts ist:
David Icke, ....And the truth shall set you free, vom Verlag, Bridge of Love.
Das vererbe ich meinen Kindern, so nuts ist es !

Reviewer: Greg Quinn (South Africa) -

David Icke has been researching the 'Illuminati' or 'enlightened ones' aka those with 'all the knowledge' for over 25 years now. These people are the same few that control all global events and the world money system. With this type of power, anything is, and has been possible.

Icke's research and references are solid. He doesn't make stories up, but rather puts together factual pieces of information and looks at similarities and starts building puzzles that become clearer and clearer.

Give this book a chance, if you are a skeptic or not, read it from cover to cover, then start criticising, this book one very well written, well researched text that will blow your mind and give you some real 'enlightenment'...

JJJ, Kupfer hat heute einen hoechst Preis erreicht, und ich sitze auf Gold und Silber.

@ Ulfur

Mensch Meier wie oft haben wir die Hippos durch den Schlamm gezogen im Droppy thread.

Der Kebble ist der groesste Bazi und Jew Boy von Joburg,ich gespannt wie der nun aus dem Wasser kommt.

Hier ist fast alles moeglich, ich denke mal positiv und sehe das eher als eine Show mit Kebble und RR called who is who in the Zoo.

Monkey Shows haben wir fast jeden Tag, auch im Forum.

Gnight

XEX

In apparent recognition that investors have more questions than answers, Kebble has once again said that within weeks, R&E will appoint two non-executive independent directors. Such an undertaking was first made on April 29, when R&E said two such directors would replace two incumbent directors. In May, R&E announced that Stephen Tainton and Gordon Miller had resigned as directors.

That left as R&E directors Kebble, as CEO, along with his father, Roger Kebble (non-executive chairman), Hennie Buitendag (CFO), Lunga Ncwana (non-executive director), and Brenda Madumise and Chris Nissen (both cited as “independent non-executive directors”). However, Madumise and Nissen, along with Ncwana, have vested interests in Inkwenkwezi.

And Brett Kebble is, of course, CEO of Western Areas.

Na wer hat nun rechtlich die Shares oder wo sind sie denn hingekommen ????

@ Edel Man

Also beleidige nicht so primitiv unsere "Freunde".
Sie wollen doch nur unser Bestes, ....unser Geld !!
Wenn man die alle in einen Sack steckt und drauf haut erwischt man nie den falschen. Sage bloss nichts boeses ueber die !

Cheers

XEX

FOR IMMEDIATE RELEASE

INVESTOR ALERT--"Top 10" investment frauds

MONTGOMERY, ALABAMA (August 15, 2005) – Joseph P. Borg, Director of the Alabama Securities Commission, today released an updated list of the “Top 10” scams, risky investments or sales practice abuses they’re fighting. New to the third annual list are unscrupulous brokers, conflicts of interest in analyst research, charitable gift annuities, and oil and natural gas scams.

“Record-low interest rates and a bear market on Wall Street have created a bull market in fraud on Main Street,” said Borg. “Con artists know investors are concerned about low interest rates on fixed investments and volatility in the stock market, so they pitch their scams as safe alternatives and promise high returns – an impossible combination.”

The 2005 list was again topped by independent insurance agents selling risky or fraudulent securities. Borg said that while most independent insurance agents are honest professionals, too many are letting high commissions lure them into selling high risk or fraudulent investments.

The federal war on terror and large budget deficits at the state level are diverting or pinching resources to fight investment fraud, Borg warned.

“Putting people in jail gives investors the biggest bang for their regulatory buck,” said Borg. “So legislators at all levels need to ensure that prosecutors have sufficient resources to successfully bring securities cases.”

Here are the “Top 10” investment scams, ranked roughly in order of prevalence or seriousness:

1. Unlicensed individuals, such as independent insurance agents, selling securities. In hundreds of cases from Washington to Florida, scam artists are using high commissions to entice independent insurance agents into selling investments they may know little about. The person running the scam instructs the independent sales force – usually insurance agents but sometimes investment advisers and accountants – to promise high returns with little or no risk. For example:

In an alleged scam sold almost entirely by independent insurance agents, investors in at least 14 states lost close to $30 million. According to Ohio securities regulators, money raised from the sale of fictitious limited partnerships was used to make interest payments to another group of promissory note investors. Both groups were promised double-digit returns. The promoter falsely claimed he had a lucrative “connection” to the Federal Bureau of Investigation and that he had earned Ph.D.’s in finance from Oxford and Ohio State University – claims insurance agents used to sell the scam. In April a court issued a preliminary injunction and appointed a receiver in connection with the allegations.
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Earlier this month, an Arizona insurance agent was sentenced to 10 years in prison for selling $1.8 million in worthless stock and bogus promissory notes to investors. Another Arizona insurance agent was sentenced in May to five years in prison for scamming 32 elderly investors out of nearly $2 million by first soliciting them to purchase ‘living trusts’ and then switching them into annuities and finally into bogus promissory notes. A third Arizona insurance agent, working with his two sons, scammed $16.2 million by selling high risk brokered CDs, viatical contracts, real estate deals and equipment leases. They were ordered to repay all $16.2 million and fined another $133,000.

To verify that a person is licensed or registered to sell securities, call the Alabama Securities Commission. If the person is not registered, don’t invest.

2. Unscrupulous stockbrokers. The declining stock market has caused some brokers to cut corners or resort to outright fraud, say state securities regulators. In addition, some investors have grown more cautious and are scrutinizing their brokerage statements for unexplained fees, unauthorized trades or other irregularities. In North Dakota, regulators acting on a complaint from an investors who received conflicting account statements discovered that two brokers working for H.D. Vest Investment Securities Inc. had been issued fictitious account statements executed hundreds of unauthorized trades and made unsuitable recommendations – over 80 percent of their clients were trading put options – to investors. Under a settlement agreement with state securities regulators, H.D. Vest agreed to repay clients’ out-of-pocket losses plus 6 percent, totaling over $3.2 million.

In New York, the attorney general’s office took action against seven brokers and two firms for bilking hundreds of elderly investors out of more than $12.5 million through a pay telephone scam. The brokers pressured investors into liquidating their CDs, annuities and IRAs, sometimes at significant penalty, and promised them “risk-free” 14 percent returns. So far one firm has agreed to pay $5.9 million in restitution.

3. Analyst research conflicts. In May, the New York Attorney General’s office concluded a 10-month investigation into whether Merrill Lynch had issued misleading research reports by entering into a settlement agreement with the firm. Under the agreement, Merrill Lynch agreed to pay a $100 million fine and make significant changes to way it does business. NASAA is assisting a multi-state task force investigating conflict of interest issues at Wall Street firms. The primary focus of the ongoing investigation is to determine whether analysts issued glowing research reports and made buy recommendations in order to win investment banking business. State investigators are now reviewing materials provided by a dozen firms for possible securities law violations.

In June NASAA learned of an attempt by Morgan Stanley Dean Witter to amend an early version of the Sarbanes-Oxley Act with language that would have ended the states’ probe into whether Wall Street analysts intentionally misled investors. NASAA held a press conference and met with lawmakers; the draft amendment was ultimately not included in the bill.

4. Promissory notes. These are short-term debt instruments often sold by independent insurance agents and issued by little-known or non-existent companies promising high returns – upwards of 15 percent monthly – with little or no risk.

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In June, four Georgia-based scam artists were each sentenced to 17 ½ years in prison for recruiting independent insurance agents to sell millions of dollars worth of bogus promissory notes. While investors were promised nine-month returns as high as 21 percent, half of each investment went straight to commissions that were divided among company principals and sales agents. Acting on a tip from the Better Business Bureau, Georgia securities regulators seized nearly $5 million of the $8 million stolen from local investors and, together with federal investigators, used the evidence uncovered to broaden their investigation and prepare criminal charges. In the end, the Federal Bureau of Investigation, working with Georgia regulators, found the ringleader – Virgil Womack – had scammed over $150 million from investors nationwide. Of the $150 million, nearly $90 million was seized and returned to investors. The average age of the victims was 68.

In another case, a Maine court sentenced an insurance agent to seven years in prison for running a promissory note scam that took 25 investors for more than $1 million. The agent, who was sentenced in June, told investors the notes were “better than certificates of deposit and life insurance policies,” regulators said, and that they would yield 10 percent to 12 percent returns annually.

“A 12 percent return may not seem over-the-top by bull market standards, but it’s far more than banks are offering now for insured deposits,” said Chris Bruenn, administrator for the Maine Office of Securities.

5. Prime banks. Scammers promise investors triple-digit returns through access to the investment portfolios of the world’s elite banks. Purveyors of these schemes often target conspiracy theorists, promising access to the “secret” investments used by the Rothschilds or Saudi royalty.

In Texas, a Harlingen-based con artist promised returns of 6 percent to 8 percent a month through a secretive web of money dealers supposedly set up by a coalition of governments in 1914 to pay for World War I debt. In videotape shown at Monday’s press conference, the promoter claimed that seven “world traders” control the entire global money supply. In the end, the scam took over 300 investors for roughly $6 million.

6. Viatical settlements. Originated as a way to help the gravely ill pay their bills, these interests in the death benefits of terminally ill patients are always risky and sometimes fraudulent. The insured gets a percentage of the death benefit in cash and investors get a share of the death benefit when the insured dies. Because of uncertainties predicting when someone will die, these investments are extremely speculative. In a new twist, Pennsylvania regulators say “senior settlements” – interests in the death benefits of healthy older people – are now being offered to investors.

In June, 15 individuals were indicted in connection with a scam that cost hundreds of investors nationwide at least $100 million. State securities and insurance regulators, together with federal regulators, allege the individuals, employed by Liberte Capital Group, were involved in a scheme to buy life insurance policies from terminally ill individuals who lied to insurance companies about their medical conditions. Liberte managers used investor funds to support lavish lifestyles, including investments and the purchase of large homes and dozens of boats and cars. A receiver has been appointed in the case.

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7. Affinity fraud. Many scammers use their victim’s religious or ethnic identity to gain their trust – knowing that it’s human nature to trust people who are like you – and then steal their life savings. From “gifting” programs at some churches to foreign exchange scams targeted at Asian Americans, no group seems to be without con artists who seek to take advantage of the trust of others.

In Alabama, nine individuals have been charged with scamming members at the Daystar Assembly of God church in Prattville out of more than $3 million. Investors were told their money would be used to purchase retirement properties in Florida. The income generated by the Florida properties would be used to payoff the mortgage of the Prattville church and build a large activity park, investors were told. In reality, state securities regulators allege, the money went to pay off investors in a previous scam and to purchase equipment for unrelated businesses.

8. Charitable gift annuities. These annuities are transfers of cash or property to a charitable organization. The value of the annuity is less than the value of the cash or property, with the difference constituting a charitable donation. While most annuities offered by charitable organizations are legitimate investments, investors should be cautious of little-known organizations or those that provide only sketchy information.

In Arizona, regulators uncovered a scam that took 430 investors nationwide for an average of $133,000. The scam involved the purchase of charitable gift annuities from the Mid-America Foundation. According to regulators, Robert Dillie, founder of Mid-America, ran what amounted to a $54 million Ponzi scheme through a network of independent insurance agents, financial planners and accountants. Dillie used investors funds to purchase three homes in Las Vegas, a ranch in South Dakota, pay child support, book charter flights and support his extensive gambling.

“Unfortunately, Mid-America is not an isolated scam,” Mark Sendrow, director of securities for the Arizona Corporation Commission told reporters Monday. “We are looking at two more foundations in the Phoenix area which have issued millions of dollars of charitable gift annuities in the last few years, and both were basically penniless before they began issuing them.”

9. Oil and gas schemes. These scams follow the headlines, rising in frequency with predictions of oil shortages or a rise in gas prices. In Arkansas, securities regulators forced Energy Consultants and Ark-La-Tex Consulting Co., L.L.C. to discontinue their marketing efforts after finding a natural gas well touted to investors as a ‘can’t lose’ opportunity hadn’t produced natural gas in years.

10. Equipment leasing. While the vast majority of equipment leasing deals are legitimate, thousands of investors have been scammed by individuals selling interests in payphones, ATMs or Internet kiosks. In a typical equipment leasing scam, a company sells a piece of equipment through a middleman. As part of the sale, the company agrees to lease back and service the equipment for a fee. Investors are promised high returns with little or no risk. But state regulators say high commissions paid to salesmen and promised returns that are unrealistically high doom many projects. In North Carolina, regulators took action against an individual who sold an Internet kiosk to an investor for $24,950, promising a 17 percent return. The individual had previously sold payphone leases to investors from a company that later filed for bankruptcy.

Before investing, state securities regulators urge investors to call their offices and ask if the individual selling the investment is licensed to do so. Regulators say investors can also save themselves a lot of grief by asking a second question – whether the investment itself is registered. To check out an investment or salesperson, contact the Alabama Securities Commission:

Pascal

Ja wenn man Gold nicht stoppen kann dann stoppt man eben den HUI, ganz einfach. Ist schon komisch, Gold steigt fast 4 Dollar und der HUI faellt, ein verrueckter Markt mit vielen Tricks im Spiel.

Hier findet man einige Antworten:
http://www.sec.gov/rules/petit…-500/jdfinnerty050505.pdf

Und so wie bei KRY kann man es mit den anderen auch machen, aber es gibt ja keine Manipulation.
Alles dumme Verschwoerungstheorien !!!

http://www.resourceinvestor.com/pebble.asp?relid=12062

Genauso ist es Ulfur, die pumpen sich die Aktien und verkaufen in der Hoffnung sie spaeter wenn die Hasen weg sind diese wieder guenstiger unter den Nagel zu reissen, ist ja nichts neues.Danke fuer den link, so laeufst ab auf der Boerse.
Bei den Juniors gehts noch leichter.

Gruss

Eldorado

Kebble’s R1.4-bn gold conundrum

The two sides of how 14-m shares in Randgold Resources, worth $200-m, have apparently gone walkabout.

Bear with us a while, and read this mystery story of a vanishing $200-m in shares that high-profile South African mining executive Brett Kebble claims belong to a company he controls as CEO.

The story begins on page 65 of the Randgold Resources (RRL) “20-F”annual report, filed in the US on June 30, 2005, where footnote two points to how 14.4-m shares in RRL cannot be attributed to Kebble’s Randgold & Exploration (R&E), which claims ownership.

Arcane as it may sound, the question is of vital importance to investors in R&E, which, for many months, has stated that it holds 18.4-m shares in RRL, currently worth $260-m. According to RRL, R&E holds 4-m shares in RRL, period.

R&E holds its primary listing in Johannesburg; RRL holds its main one in London, and both stocks are listed on the Nasdaq exchange in the US. For some years, R&E’s stake in RRL has comprised the majority of its tangible underlying value.

With RRL currently trading at $14.05 a share, R&E should be trading at about $3.50 a share (calculated simply by multiplying R&E’s apparent 18.4-m shares in RRL by $14.05 and dividing by the 75-m issued shares in R&E).

According to an R&E release on April 29 this year, however, RRL comprises just over half its net asset value (NAV); on that basis, R&E should be trading up around $6 a share. In practice, R&E is currently trading at just $1.70 a share. There has been a huge, if not overwhelming, feet-vote by shareholders, who first got a whiff that R&E may have been selling off its RRL shares two years back.

Since then, measured on the Nasdaq, RRL’s shares are up by roughly 60% (and trading close to record levels); R&E’s are down by roughly 60%. RRL, which was a near-irrelevant incubated backroom R&E entity a decade ago, is now valued at $832-m; R&E is worth a comparatively paltry $127-m.

The RRL annual report (of last week) is a special one, filed as required by US law in Washington with the Securities & Exchange Commission (SEC), a federal agency. The annual report is filed as a “20-F,” and runs to more than 400 pages. However, apart from the 20-F footnote on page 65, a further number of regulatory filings in and around R&E have tossed further fat into the fire.

On Monday this week, the JSE Securities Exchange announced in Johannesburg that R&E had failed to submit its annual report for the 12 months to December 31, 2004. The stock is now annotated with an "RE" and faces suspension on July 29, failing filing compliance by that date.

Last week, on June 30, R&E filed with the SEC an “NT 20-F,” stating that R&E was unable to file its 20-F on the same date, for two main reasons. First, it was awaiting the 20-F filing from RRL (which was made, of course, on the same day), and second, that R&E had experienced delays in obtaining information necessary to prepare accounts according to US accounting standards.

In 2004 (when RRL also filed its 20-F on June 30), R&E filed a similar delaying document, but complained only about accounting challenges, and not the filing date of RRL’s 20-F. However, the big difference this year is that RRL is adamant that R&E only holds 4-m shares in RRL, via Randgold Resources Holdings (RRH).

RRL states that the figure of 4-m shares is based on its analyses of its shareholder base and other information. RRH filed a Schedule 13G/A on February 14, 2005, which reported beneficial ownership of 18.4-m RRL shares, or 31% of RRL’s total outstanding ordinary shares. Last week, RRL 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.”

Separate to the filing with the SEC, RRL CEO Mark Bristow is adamant that RRL has exhaustively investigated its shareholders, including nominees. He insists that there is simply no way that R&E holds 18.4-m shares in RRL. However, Bristow is not spoiling for a fight; he points out that he is bound by laws applicable to RRL’s listings to “discover” RRL’s shareholders, whomever they may be.

For his part, Kebble insists that the delays in R&E’s filings have been occasioned by reporting delays by certain non-South African interests and that the RRL shareholding issue has “nothing” to do with the delays.

At the start of (calendar) 2004, R&E has stated that it held 21.5-m (36.9%) shares in RRL. Of this, 3.2-m (6.0%) shares were sold during the year. That left 18.4-m (30.9%) shares in RRL at end-2004; of which 9.9-m (16.7%) were lent to Inkwenkwezi, a black economic empowerment (BEE) entity, primarily for the purchase of the Anglo American shareholding in Western Areas (19-m shares).

Inkwenkwezi is apparently finalising the transaction with Anglo American, and also exercising its option against R&E for 5.3-m Western Areas shares. Then there were 2-m (3.3%) RRL shares held (under R&E direction) in escrow by a vendor of a potential Angolan diamond concession as security for first right of refusal. Following completion of a due diligence, R&E elected not to pursue the opportunity and the RRL shares “are required to be returned.”

This would have left R&E holding 6.5-m (10.9%) RRL shares directly and indirectly at end-2004; adding the Inkwenkwezi and Angolan-related shares takes the total to 18.4-m (30.9%) shares in RRL.

Earlier this year, RRL released the results of a “global shareholder identification exercise” conducted by research group Ilios in December, which found that Merrill Lynch UK was the company's single largest shareholder, with 6.89% of RRL’s issued shares; R&E’s holding had “been reduced to 6.74%” – or 4-m shares.

Now we come to Kebble’s conundrum which can be traced to at least the official announcement on the construction of the R&E BEE deal on June 10, 2004, when Inkwenkwezi consortium head Mafika Mkwanazi said Inkwenkwezi “would raise funds on the open market” to pay Anglo American.

R&E gave the Inkwenkwezi consortium a 12-month call option on the shares at cost plus interest, and also pledged the shares as security against Inkwenkwezi’s obligation to Anglo American. There was not a word about the RRL shares. Kebble is, of course, also CEO of Western Areas.

Kebble tells this journalist that he will explain everything, but not until he returns to Johannesburg from abroad on Thursday this week.

ARTICLE TWO: DEEP UNDERCOVER [Published July 8, 2005]

As promised, Kebble on Randgold

Randgold & Exploration CEO Brett Kebble assures that the 18.4-m shares in Randgold Resources are as safe as a palace.

In a wide-ranging interview, mining magnate Brett Kebble has assured that the 18.4-m shares Randgold and Exploration (R&E) holds in Randgold Resources (RRL) are safe. R&E is the “beneficial owner” of the shares, according to Kebble, the CEO at R&E.