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Gold/Mining/Energy : Mosaic Group (MGX.TO)
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To: Marc who wrote (58)5/16/2000 9:22:00 PM
From: sPD   of 67
 
Thanks for the analysts' updates - I expect that we'll see upgrades when the expected acquisitions in Germany and Italy take place. Analysts from Merrill Lynch are now covering Mosaic as well so it should be interesting to see what they have to say.

I dropped the company a note to congratulate them on the thoroughly "investor-friendly" annual report and to enquire about the timing for a listing in the US. Here is the reply from IR:

... Mosaic continuously places emphasis on being accessible to our shareholders and to make the fullest disclosure possible. Our current plans are to list in the US (NYSE or NASDAQ) likely in late 2000. This would generally be best if done coincident with a share offering to put meaningful share liquidity and ownership in the market at the same time (to avoid being listed but not traded and to also get investment banking sponsorship and an analyst following). We continue to make progress in terms of the US as we already have a number of US institutions invested in Mosaic (around 10). In addition, Merrill Lynch (joint Canada/US) has initiated coverage.

I hope this helps. If you have any more questions we'd be pleased to answer
them.

Best regards,
Catherine Linley
Mosaic Group Inc.
469A King St. W.
Toronto, ON
M5V 3M4
(416) 813-4277
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