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Gold/Mining/Energy : TITANIUM CORPORATION INC.- The Next Major Mining Play
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To: Winzer who wrote (211)1/7/2000 9:59:00 AM
From: chevalier  Read Replies (1) of 343
 
This appeared in todays Cape Breton Post. A more realistic take on the situation. The government, IMO, must do everything to conclude this deal:

New owners getting grip on operation of steel plant
By Wes Stewart
The marriage between Rail Associates, a Michigan-based consortium, and Sysco has yet to be consummated, spokesman Myles Paisley said Thursday.
Rail Associates is now doing a due diligence on the plant to see if it meets the terms set out in the sale, a process Paisley compared to a person buying a car.
Things are progressing and they are trying to stick to the schedule which includes a detailed analysis of the plan, he said.
This due diligence is expected to take six to eight weeks depending on what they find, he said.
Paisley is president of S&K Steel Products Inc., Madison Heights, the lead player in an eight-company consortium negotiating the purchase of the steel plant.
He declined an interview on their plans pointing out the province and not the consortium still owns Sysco.
Paisley noted teams are now doing a due diligence on confidential documents they just received from the province that were not available before the Dec. 31 tentative sale agreement.
Questions about the plant?s future by the new company and the status of the sale are to be answered by the province, Paisley said. He cited compliance with confidentiality agreements that are in place with the sale process required by the province.
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