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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
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To: teevee who wrote (7690)10/13/2000 10:24:40 PM
From: Famularo  Read Replies (1) of 7966
 
>>>Rio has announced that they will not be increasing their offer for Ashton. Now that DeBeers is the successful bidder, and will control ACA, do you expect they will prevent further access to cash via financings so they can take ACA private at minimal cost? Given DeBeers past history, it would appear that ACA is a dead duck and maybe a slam dunk short opportunity?<<<
Very possible, I am hoping that news will come out before they finalize the deal. With a 28% float, approx 10mil shares, they may attempt to get it cheap. Then again, even if the market cap doubles or triples from here, the finanicial cost to buyout the remaining, will only be petty cash for them..... I think Debeers is pleased with 68%, and may even leave it this way for PR reasons. There still is opportunity for the market cap growth before this ends.

For the non believers of Buffalo Hills, there still is Nunuvut. Perseus material has been received and will be processed shortly. I expect results will be available in three weeks.
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