Randgold Resources Share Discussion Threads

[sugarrush100] 29/9/2018 07:02

Thank you Newbank the information you provided is very helpful. I did well trading in and out of this Rangold stock last year.However I'm in limbo haha with the shares now as price has dropped as of late. So waiting 6 to 8 weeks would not concern me only if the price was going through the roofI think I will definitely come to the Shareholder meeting vote when and where it happens. Thanks Again .

[newbank] 28/9/2018 22:15

Sugarrush100,

Halifax don't allow trading in the Canadian Stock Exchange.

Randgold trade in the US as does Barrick but I believe they are similar to ADR's ie similar to the UK Company National Grid, which also trades in the US.

I had read somewhere that Barrick is a Toronto listed Company that also is listed in the US, implying my point above, but I could be wrong.

I know someone who holds Randgold in HSDL (Halifax) and the only option they have if they want to continue to hold the new listing is to transfer to an ISA Provider that does recognise Canadian Listed Stock or to sell. There are many Providers that do recognise the Canadian Stock Exchange like Barlays, L&G and AJ Bell etc to name just three.



Transferring between ISAs is allowed and is easy but does take between 6-8weeks. However, word of warning, if you go down that avenue; Whilst the stock is being transferred you cannot trade the shares whilst in transit, so to speak.

I had a similar issue when transferring stock from one ISA to another ISA I held with another Provider. Once the Administration Process started, my shares were in limbo for quite a long time, locking me out from trading that stock until it hit my destination ISA.

Personally, I am appalled that Randgold have not detailed sufficient information regarding the proposed Completion date (expected to be within Q1 2019) and other relevant details that would be useful to UK private investors who hold these shares in ISA's. It appears to have been left up to Investors to find out for themselves and to be wary of the 6-8 week transfer period if wanting to find a new home for Canadian Listed Stock.

Good Luck!

[philanderer] 28/9/2018 20:10

5400p at the US close.

[philanderer] 28/9/2018 20:09

Will be traded in New York and Toronto according to IC..


Sell: Randgold Resources (RRS)

Randgold Resources is to merge with Barrick Gold of Canada, in an $18.3bn (£13.9bn) deal that will create the world’s largest gold company. Under the terms of the merger, Randgold investors will receive 6.128 New Barrick shares for every Randgold share they own. Those shares will be traded in New York and Toronto, while Randgold’s London listing will be cancelled, writes Alex Newman.

[fangorn2] 28/9/2018 19:49

"ANSWER they can't give me answer yet !!!! As they don't know the answer they are waiting for more information lol."

That's just shambolic.

Which broker?

[sugarrush100] 28/9/2018 18:12

Well I rang my UK broker and asked what happens to my RRS shares in my ISA and my non ISA account when and if delisted off exchange. In a nutshell , Will I get my new shares in new company put into those existing accounts and be able to trade them or will I have to transfer to a new broker to trade. ANSWER they can't give me answer yet !!!! As they don't know the answer they are waiting for more information lol.

[philanderer] 28/9/2018 17:19

Gold bouncing again ;-)

[fangorn2] 28/9/2018 14:03

"Randgold refutes SOKIMO's Kibali claim"
Randgold Resources today refuted reported claims by Société; de Miniere de Kilo-Moto SA (SOKIMO) to the effect that the proposed Barrick/Randgold merger will introduce a new partner in the Kibali joint venture in the Democratic Republic of Congo and that it consequently intends to "assert its rights".

The company said the proposed merger would have no effect on Kibali Goldmines SA, in which Randgold has an indirect 45% interest while SOKIMO holds 10%.  The other joint venture partner is AngloGold Ashanti.  There are no provisions in the joint venture agreement and the related documentation which give SOKIMO any rights resulting from the proposed merger.

[foxy22] 28/9/2018 13:45

On the up ...reason?

[newbank] 28/9/2018 13:34

Sugarrush100,

Yes they are but aren't they ADR's?

The info that is being branded around is that the main listing is in the Toronto Stock Exchange (ABX.TO)and it is these share that will replace Randgold shares on a basis of 6+:1

[philanderer] 28/9/2018 13:06

Newbank, many thanks , good useful info 👍

[sugarrush100] 28/9/2018 13:04

Is ABX not listed on the NYSE ? I'm probably wrong ,but thought I would ask .

[newbank] 28/9/2018 12:33

For those that don't know or would like to know:

As the Barrick shares are listed on the Toronto Stock Exchange any Randgold stock held within UK ISA's need to be carefully considered by ISA holders prior to them being delisted on the LSE and replaced with Barrick shares.

Some Providers allow you to hold stock listed on Foreign Stock Exchange and some don't or limit what stock exchanges they do allow.

Also Dividends paid in Canadian $ will be subject to Canadian Tax even if it is held in a UK ISA. An NR301 form needs to be submitted to your provider where the tax charged is reduced from 30% to 15% (as with US listed stock when a W-8REN is submitted).

Also to bear in mind the dividend will be paid in Canadian $ and there may be a charge in the conversion typically 0.5%.

All this will become clear when further details are published but as a heads up and before the anticipated Q1 2019 completion date, for those not aware hopefully the above info is of use.

[redtom1] 28/9/2018 09:09

Had to bail out again today after the unexpected rise today. Not sure of the direction at the moment

[philanderer] 28/9/2018 08:27

Now if only that gold price would finally pick up as well ;-)

[philanderer] 27/9/2018 20:01

Perking up nicely stateside with a 5390p close .

[philanderer] 27/9/2018 19:53

'Biggest risk to the Barrick-Randgold merger? Thornton and Bristow's clashing personalities'

[redtom1] 27/9/2018 16:46

Thanks Essential. But problem is, I bought back in today at 52.50 so committed big time again. Admittedly I sold at 54.50 so seemed a good re-entry price. I'm all in as say at poker. Still think Gold will rise soon, albeit today it fell quite sharply.

[essentialinvestor] 27/9/2018 13:50

Tom, well done, enjoy your gains.

[philanderer] 27/9/2018 13:44

'Randgold Resources merger with Barrick will take some time to show it's mettle'

[stevedaytrader] 27/9/2018 08:47

FED was factored, hence gold continues pretty much sideways like it has done over past few weeks. Good to see TRUMP damning rise as normal, but then he would of course, and slight dip in Dow. Impact of FED on gold will alter again slightly when mins come out in a few weeks, as usual need "dovish" slant. Now we're almost in Oct and with all normal indicators now pointing towards a weaker dollar (at last!), goldies are very well placed.