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RESTORE THE GLEAM:

12th October 2018

By: Martin Creamer

Creamer Media Editor

     

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Gold mining has lost its investment glitter and needs to, in the words of the Economist magazine, of London, restore its gleam. To do this, gold mining companies Barrick and Randgold Resources want their shareholders to allow them to present an improved investment case as a merged entity. The plan is for Dr Mark Bristow, the CEO of the debt-free and more disciplined Randgold, to lead the combined unit to winning ways. Randgold, which was formed in Johannesburg and listed in London a couple of decades ago, succeeded in lifting its yearly dividends by 900% over a ten-year period, and can impart its underground expertise and localised management model to the proposed new integrated group.

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