DROOY Durban Deep- Best S. African Mine Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : DROOY Durban Deep- Best S. African Mine

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: POLARBEAR who wrote (201)	7/16/1999 8:12:00 PM
From: baystock	Read Replies (1) of 851

Okay here is a much better estimate of the dilution to DROOY: Hargraves has around 110 million shares outstanding post the DMR acquisition, which I deduced from the press releases on their website. Drooy is issuing 1 share for every 7 shares of Hargraves for the 81% that it does not already own. This translates into 12.7 million new shares for the 81% of the company. DROOY now has around 60 million shares. This means they are issuing 20% more shares to grow their production by 10%. But Hargraves should be able to double their production in time thanks to the Ivory Coast property picked up in the DMR acquisition. So IMO this deal is favorable to PATIENT DROOY shareholders since the production they are acquiring is much lower cost than DROOY's. Now all they have to do is complete the previously aborted acquisition of Emperor Mines on similar terms and they will be in good shape for the next millenium! Regards, Ram

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next