The mystery of the "missing" Randgold Resources shares owned by Randgold & Exploration (R&E) has been cleared up, according to Business Day.

The confusion arose from contradictory statements by late R&E CEO Brett Kebble, who said R&E owned 18.4 million Randgold Resources shares, or a 31 percent stake.

This was R&E's main asset, and shareholders called for a special shareholder meeting after Kebble's death to discuss the whereabouts of the shares, or the cash from having sold them.

Randgold Resources CE Mark Bristow told Business Day he had been notified by Société Générale SA that it had acquired four million Randgold Resources shares, and sold into the market at $16.50 each. The transaction was worth $66-million.

Bristow said he believed these were the last remaining shares in Randgold Resources held by R&E.

R&E is expected to release a statement on Tuesday.

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