Winter in the Great White North Message Board

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Strategies & Market Trends : Winter in the Great White North

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To: tyc:> who wrote (414)	3/6/2001 1:03:49 AM
From: marcos	Read Replies (1) of 8273

Metallica is sure beaten down lately ... ralfph mentions it along with Minefinders, i used to always think of them together too ... haven't held it since it was twelve times today's price ... they definitely have an upside potential if Noranda turns out to like the property, with a deal like this - 'Noranda is the operator and can earn a 70 percent interest in the El Morro project by completing work commitments of US$10 million and making a cash payment to Metallica of $10 million prior to September 2005. Terms of the agreement also call for Noranda to purchase, by way of private placement, US$1 million in Metallica common stock by September 14, 2001. These shares are to be priced at 1.5 times the 60-day average market price prior to the share purchase. ' 27.1m out times .30 = 8.1mCdn market cap, or 5.3mUS ... not much eh ... it'll be interesting to see how the market reacts to these holes .... if at all, lol ... this whole sector is so beat up, it's ridiculous ... world uses metals every day, takes it for granted that they'll always be cheap.

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