south african rand

Gold Mining in South Africa

As a keen observer of financial markets globally, I am often reminded of a phrase coined by American humorist Mark Twain that history does not repeat – it only rhymes. Markets have a repetitive pattern, but the peripheral circumstances change. Financial analysts are basically saying the same thing when they write about the cyclicality of markets, as assets rotate from undervaluation and being out of favor until they eventually reach the other extreme, when they are the talk-of-the-town and overvalued. When it comes to markets and investments, popularity is generally a curse. When everybody is enthusiastic about the prospects for a particular company, it is probably overvalued. Buying shares in companies with this characteristic typically is not rewarding. Conversely, the greatest opportunities arise by purchasing the shares of undervalued companies, and holding them as investments until they become overvalued. A respected mining website recently blurted this startling headline: “Most gold mines in South Africa will shut down within a decade”. Is an industry that has produced over 40% of all the gold mined throughout history, controls within South Africa some 50% of the world’s known gold resources and currently employs 150,000 people about to die? Or has a cyclical low in sentiment just been reached? These are important questions. The right answer is needed to determine whether South African mining shares are a worthwhile investment, or should be avoided. Today’s sentiment is very similar to that prevailing 40 years ago. South African newspapers and the few analysts then following the prospects of gold mining companies belabored the point that the mines were unable to generate profits at the then fixed price of $35 per ounce. The mines and even gold itself were out of favor.

@ @ you mean the South African RanD..?

I woke up to dis song dis morning.."da sun rose from north, South African Rand is more valuable da USD, Kanye West raps in Tswana"

Flying to #South Africa? Currency Exchange rate on Jul 09, 2011 for 100 GBP to South African Rand 1071.28 ZAR

Flying to #South Africa? Currency Exchange rate on Jul 09, 2011 for 100 EUR to South African Rand 955.83 ZAR

RT @: The South African Social Security Agency in North West has uncovered fraud worth thousands of rand with child support grants.

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