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Gold/Mining/Energy : Millstream Mines (MLSM)
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To: hugh thorne who wrote (579)1/18/2000 12:40:00 PM
From: hugh thorne  Read Replies (1) of 664
 
i would imagine that Teck had to have seen the recent results prior to their decision to enter the arrangment. You would look like an idiot if you sigened the deal and then had to withdraw amonth later because of bad results. I really don't think this assumption can be too far off.

If the results were mediocre, it probably wouldn't have stopped the deal, however they would have to be encouraging enough in the context of the other results to go forward.

One idea is that they again weren't the greatest and so Teck enters with their "superior" ability to read data and determine where to drill next. this seems feasable and identifies the likely problem with HDG. That is, HDG did not have the on-board skill to dtermine where to drill and Ernie thought he knew more about the "spots". Thus we got the constant bickering between the company and HDG, with a deadlock as the only real result.

Another idea is that Teck came to the table just a little too late after the company had already married HDG. Of course the company looked at who it could have married and simply has spent the last 8 months getting as good a divorce as possible from HDG. I like this theory as it hints at a much better upside. The fact that HDG had not signed off yet would also explain why the Teck agreement is so open at this moment, that is no money etc, just advise.

Any idea's from some of our thoughtful followers?
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