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Gold/Mining/Energy : Minefinders, MFL
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To: Claude Cormier who wrote (255)1/13/2001 10:04:09 AM
From: russwinter  Read Replies (1) of 578
 
I find it interesting and revealing that Echo Bay would be buying shares in this PP. Doesn't say how much but according to my notes they owned 25% of outstanding before this offering. Don't know much about ECO, but in looking over quickly they seem to be stable operationally but a bit overleveraged. I wonder what their role will be regards future development of Delores? Could they take out the rest, or carry it to production for a bigger percentage?

They didn't go to the typically institutional sources on this either, but to Prudent Bear Fund, a party likely to have strong hands. Pretty shrewd placement IMO, just unfortunate that it had to be at giveaway prices.
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