Johannesburg - Beleaguered miner Randgold and Exploration (R&E) said it had derived R6.3 million income from the recovery of R4.4m in the insolvent deceased estate of former mining baron Brett Kebble who was killed almost ten years ago.
It said in its interim financial results for the half year to June 30 that it was liquid with no interest-bearing debt and R171.8m in cash and cash equivalents. R&E’s net asset value remained unchanged from the end of last year at R2.16 per share.
“The outlook for the balance of the year is largely dependent on the progress and outcome of legal proceedings in which the company is engaged. Legal expenses for the balance of the year are expected to be at a similar level. Management will continue to approach all legal matters and related expenses in a commercially pragmatic manner,” it said.
BUSINESS REPORT