MFL: good exposure and a well done interview, this Q & A being the most interesting. I think he is saying they are willing to party with a major anytime there is a reasonable offer, but in the meantime they'll just keep progressing. That's OK, but I lean towards the active approach: a major carried JV, or a stock swap merger. Reading between the lines he may be saying that's not available to MFL yet?:
twst.com
TWST: Where would you expect your company to be, let us say, in the year
2004, realistically?
Mr. Bailey: Our goal is take Dolores to production within the next 24
months and bring some of these other properties along behind that.
Realistically, as I mentioned before on the consolidation issue, I would
think that some bigger fish is going to have to come after us to try to
get those resources because they're not doing the exploration themselves
to replace their current production. Most major companies and even mid-
tier producers do most if not all of their exploration on their existing
mine properties (headframe exploration). They're not doing any new
generative type exploration required to find new world class districts
in the world. And eventually, they're going to have to go out and
acquire new properties somehow, either through joint ventures, mergers,
or an acquisition. So my gut feeling is that as we continue
successfully, advancing these properties to a production decision,
somebody will come along and make an offer to the company that's too
good for the shareholders to pass up, and they'll take it. |
