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Gold/Mining/Energy : waterfront capital- wcc (ase)
WCC 288.83+1.2%11:19 AM EST
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To: rock who wrote ()4/20/1997 1:50:00 AM
From: rock   of 25
 
Ed, sorry for the delay in replying to your query. I have been busy for the last few days and to-day is the first time I got a chance to
read the SI.
My opinion on the latest J.V. is that it is a win-win situation for the three parties concerned. Falconbridge got into VBE1 for approx.
$1MM with the potential to lock in a major discovery after the 1997
drilling season. A small change for Falcon. For ICA and CYR, its a
??? price to pay to give up 25% of VBE1, if it turns out its a major
discovery. However, both companies gain credibility because of having
Falcon. as its new partner and an inside track of where the Eastern
Deep extension would go into VBE1. However, don't expect the stock would go up until they really hit the real thing. Owing WCC is less
volatile than buying directly into CYR and you can sleep good at
night. I once heard the comment from the PY guy that WCC is Doug Maison's RRSP. Also, WCC got its 2MM shares of CYR at 10 cents per
share. So there is not much of a downside risk and the upside is
unlimited, with the number of stocks in its portfolio. There is a
block trade of CVA 200,000 shares reported by the Financial Post. Keep
an eys on it. May be there is something cooking. WCC owns a lot of CVA., again at wholesale price.!
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