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Gold/Mining/Energy : TITANIUM CORPORATION INC.- The Next Major Mining Play
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To: chevalier who wrote (176)12/8/1999 6:04:00 PM
From: Winzer  Read Replies (1) of 343
 
I don't think my 2c had anything to do with it. On the supper hour news on Atlantic Television (ATV) they had some of the union members talking about their discussions with the government. Indications are that SYSCO will not be shut down as threatened at the end of the year.

In reading between the lines I suspect that letter(s) of intent are being prepared by either of the two interested party. My (yours and others) gut feel is that the debt load (sunken costs) can only be mitigated by a sale not a shut down (which will probably cost another 500 mln). I'm sure that they're not looking foward to the reclamation bill on the plant either.

So I suspect the market activity was related to the extension being reported on the news. Prior to that the stock was acting as warrant getting closer to its expiry date. Now that we have at least a two month extension the time premium becomes the glimmer hope that the serious (and battered) NAR investors have been waiting for. Again second guessing the intent of Dr Hamm, the possibility of a deal going through must be high enough to give the unions enough hope for a buyer to be signed. The mill looked pretty new in the sections shown on TV.

Anyone know why PI was selling/dumping today. I don't think that the weighted average share price was more than a dollar. The last couple of trades @ 1.20 featured Canaccord.

Winzer
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