>Listen bucko! This is a Teck/Donner play.>
And this is a Northern Abitibi thread.
And Cal, I assure you I'm well versed as to whom exactly Teck is!
But speaking of Teck, personally myself I don't read to much into the fact that Teck is involved in this play.
As far as I know, and I would appreciate it if you could correct me if I'm wrong, but I believe Teck is involved by way of a private placement in Donner (1.4MM units at $1.25)which allows them to earn a 50% interest in Donner's 50%.
So really its a Northern Abitibi/Donner not a Teck/Donner play as you represent.
Teck I believe is acting as operator and consequently doing the drilling, and probably collecting 10% for doing so, (just guessing but thats about the industry standard). I think some people in reading the
Sept. 30 '97 release which seemed to create a stir in the market are assuming it was Teck that was increasing the size of the drill program from $300,000 to $1,100,000, as far as I can see its not, Donner and Northern Abitibi are the ones funding the program.
It's somewhat interesting to me that this play is heating up just about the time Tecks warrants become excerisable around the end of this month.
It's also interesting to me that two individuals who were key players in two major scandals are or were once involved with these two companies. I already alluded to Mr. Harper, my information is that Terry Alexander of Delgratia fame was once involved in Donner as a major shareholder.
Consequently, if you believe lightning can strike twice, you might want to stand aside and wait for Teck to get lucky before you buy, but personally I don't think they will!
And as far as Teck's involvement with Donner, my reading on that is that it amounts to a little mad money after making a bit hit with their Diamonfields private placement!
Just my thoughts on the matter! |
