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Gold/Mining/Energy : MIRAMAR MINING (MNG)
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To: Bucky Katt who wrote (77)6/25/1997 3:56:00 AM
From: Bear of 457
 
Miramar Mining Corporation - In the News

Post says options being mulled

Miramar Mining Corporation
MAE
Shares issued 56692773
1997-06-20 close $5
Monday Jun 23 1997
In the News
See Northern Orion Explorations Ltd (NNO) In the News
The Financial Post reports in its Saturday edition that management has promised
to take steps to bolster the lagging share prices of gold producer Miramar Mining
and its 54 per-cent-owned exploration arm, Northern Orion Explorations.
Reporter John Schreiner notes that Walter Berukoff, chief executive of both
companies, says that management, including himself, are not happy with the
performance of the stocks. Moves being considered include an acquisition by
Miramar, which had working capital of $144 million at the end of the first quarter.
Likely acquisition targets are other gold companies, but Mr Berukoff says it has
not dismissed the idea of taking a bigger stake in Northern Orion. Northern Orion
could need more cash later this year. It is looking at making deals with its large
portfolio of about 40 mineral properties in Argentina and Cuba to raise cash
without selling more shares. Mr Berukoff says the companies are not looking at
diluting their shareholders at this point.
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