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Gold/Mining/Energy : Coleville Resources - CLL
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To: Eric Fliegel who wrote (1415)4/1/1997 8:41:00 PM
From: vandek   of 3058
 
The Strathcona report will be aprox. 16 pages long detailing the property in Indonesia. The other thing (rumor) I heard today is that Anz is very serious about buying out Cll's share in the property. What I heard was that it will be a 2:1 offer. For every share of cll you have you will receive 2 shares of Anz...not a bad deal with Anz closing today at 2.35..it puts the deal around (4.70 cad for each Cll share you own)so it appears that Cll has some room to move ahead. I asked why Cll would tender there shares, well Cll does not want to do a finacing, when it comes to drilling this property Anz has all the cash behind them ( a recent 25,000,000 dollar finacing)..all the variables are in place for both companies to go ahead with this deal.Its fantastic for both companies & shareholders. Cll shareholders receive a fair dollar value for their shares, as well having the Indonesia properties potential still avaiable through Anz shares. Anz shareholders receive 45 % more of this property, which is rumored to contain anywhere from 12-20 million ounces. As I said early, Anz would not even be talking about getting the other 45 % from Cll if they were'nt sure the gold is there, and neither would the large institutions that are behind the Anz finacing....some have valued Anz at 125.00 cad per share if there is 20 million ounces with only 45% interest in this property, do the math...90 % ownership..WATCH OUT......just my thoughts......
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