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Gold/Mining/Energy : CELTIC MINERALS LTD A COMPANY TO WATCH SHORT AND LONG TERM
CME 265.49+1.0%Oct 31 3:59 PM EDT
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To: Jimsy who wrote (731)7/14/2000 10:44:32 AM
From: Stan Kozak  Read Replies (1) of 744
 
Sounds like some preliminary "due diligence" on the part of Phelps Dodge. Celtic must be "shopping" the preliminary results from this property and Phelps is willing to take a bite. I can't see Phelps drilling on somebody else's property unless a preliminary agreement of some kind is in place. I don't believe big companies like Phelps operate on verbals and handshakes. I also think Phelps would not stick out its neck unless they thought they had something on thier own property, and are trying to keep out the competition by J.V.ing adjoining properties.
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