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Gold/Mining/Energy : ATLANTA GOLD CORP. (TSE:AAG)

TWG 3.940

0.0%

Feb 11 3:57 PM EST

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To: Ronald P. Margraf Sr. who wrote (23)	10/26/1996 10:59:00 AM
From: Ross Mickey	of 495

Good morning, Ron. I withdraw my question. I was in a hurry and wasn't thinking. I went to the Atlanta web site and read about it. It looks good. I see why they don't want to rool it into this deal, keep the speculative and known separate. So here are some thought based on the following assumptions Voisey-share price 1.10 shares out 10 mill Atlanta share price .70 shares ot 22.5 mill Voisey will pay 1.10 per share for the new company and add 10 milllion shares to the new company Atlanta will pay ????per share for the new company. I know that it will take 2 shares of Atlanta for one share of the new company but they also retain one share of Atlanta. So we could analize it by saying that for every 2 shares of Atlanta, 4 shares will be issues. If we assume equal price per share (2 x .70 = 1.4 / 3 = .47 per share) Atlanta will then pay .93 per shar in the new company and add 11 million shares to the new company and pay .47 per share for the Nevada property. Voisey owners will now own a company with 21 mill outstanding instead of one with 10 mill outstanding. Atlanta owners now own Atlanta with 10 mill outstanding and half of their original position and shares of new company. It looks like a better deal for Atlanta. As I write I see i am unsure what is meant by a "proportional share". Will two shares of Atlanta be worth one of new Atlanta or two of the new Atlanta? I assumed above it would be a 2 for one for Atlanta stock as well as the new company. Well now I am confused..... Talk to you later, Best of Luck Ross

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