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Gold/Mining/Energy : MIRAMAR MINING (MNG)
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To: Bucky Katt who wrote (33)5/1/1997 9:28:00 PM
From: Alan M. of 457
 
I recently received the May issue of Adrian Day's Investment Analyst. He has been high on MAE for some time and had this to say,

"Miramar (MAE, $5.30) is a value play, selling at less than the value of its cash and securities. The market has penalized Miramar for its conservatism in making new acquisitions, but its $120 million war chest may serve it well now. You'll need to be patient, but it is cheap and has real value."

It seems to me that the direction of this stock really depends on what they do with the cash. As with most investments though, the key word of advice is "patience".

Regarding the issue of non-controlling interest, the only other way I can see that a holding of greater than 50% of the shares would be classified as non-controlling is if they have less than 50% of the voting stock or there is some other arrangement which gives defacto control to another group or individual.
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