To all:
By the sound of it, EET is going to try and prove up the area outside of the land optioned to Placer (see excerpt from 04/08/97 release below) similar to what PFG is up to with Barrick. IMO, we might be looking at a pretty much done deal with only upside potential.
(excerpt)
Approximately $16,000,000 of the proceeds will be used by the company to
financed continued exploration on the portion of the Tiawa concession in Niger,
West Africa outside the area of the concession optioned to Placer Dome. The
remainder of the proceeds will be used to acquire and explore other properties in
Africa and for general corporate purposes.
Just for the hell of it, I checked the position of James Capel as they have been saying positive things lately about EET. From what I can tell, Capel has only been buying EET since December. They own 855,750 shares at an average of $6.62. Total cost is $5,672,835. $4,177,205 of the total buying was done in March. On March 26th they bought 479,500 shares at an average of $7.00, none of it was internal crossing. One block was 385,000 shares from DS.
I am going to call the company on Tuedsday April 15th. If anyone can think of questions, email me at: valley@web.net
Randy
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