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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who wrote (23478)10/2/2000 10:27:15 AM
From: pater tenebrarum  Read Replies (2) of 436258
 
gold industry 'shocked' at investor indifference:

It's shocking," complained Pierre Lassonde, president of Franco-Nevada Mining Corp.,who recently travelled to New York to visit U.S. shareholders of his Toronto-based gold mining company. When he telephoned to set up a meeting with one mutual fund manager who previously held stock in his company, the official told Mr. Lassonde "you're too small, don't bother."

Franco-Nevada ranks as one of the biggest gold mining companies in Canada, with a market cap of $2.4-billion.

Rather than "slip off the radar screen" with investors, Mr. Lassonde said Franco-Nevada is considering a variety of potential acquisitions. The mining company recently lost a bid to acquire South Africa's Gold Fields Ltd., and although Mr. Lassonde won't discuss details, others are speculating his company may take a run at Vancouver-based Placer Dome Inc.

With the gold sector so fragmented among half a dozen major players, industry observers are predicting mergers involving such companies as Toronto-based Barrick Gold Corp., Homestake Mining Co. of San Francisco and Newmont Mining Corp. of Denver.
Potential takeover targets
Weekly share price close on the TSE
Teck Corp Last close $10.05, down 20¢
Placer Dome Ltd Last close $14.05, unchanged More.... globeinvestor.com.
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