Yesterday we reported our intention to take profits on Randgold Resources Limited (GOLD) and today we are pleased to report that we sold our entire holding for an average price of $68.69 for a return of 82.44%.
We acquired this gold producer on the 18th of June 2008 for $37.65 and the stock quickly rallied to $55.00 before being caught in the ensuing sector sell off to trade as low as $27.70, so it has been a volatile ride making us smile and cry as the stock oscillated from being in favour to unwanted over short periods of time.
Randgold will now be placed on the watch list with the view to buying back the stock as and when the opportunity presents itself.
Randgold Resources Limited trades on the NASDAQ under the symbol of GOLD and on the London Stock Exchange under the symbol of RRS.
Have a sparkling day.
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