Pacific Rim Mining V.PFG Message Board

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Gold/Mining/Energy : Pacific Rim Mining V.PFG

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To: charred who wrote (14499)	1/12/2002 2:44:46 PM
From: teevee	Read Replies (1) of 14627

charred, My favorite at the moment is Philex. World class discovery. I agree about the world class discovery, however, the parent Philipine mining company owns almost 90% of Philex. If and when this moves forward, I suspect that Philex will be "absorbed" by the parent. I was in the play earlier, but I just don't see any reason to stay, given the ownership and control dynamics. The parent company took advantage of a hot gold market and spun off 10% interest in some marginal and questionable gold properties in the Philipines in exchange for a $10 million dollar financing just before Bre-x fell apart. I don't see how the controling Philipino company will have Philex's shareholders interests at heart.

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