Francisco Gold - FGX.V Message Board

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Gold/Mining/Energy : Francisco Gold - FGX.V

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To: Bat Man who wrote (1748)	3/6/2002 9:05:22 AM
From: Claude Cormier	Read Replies (5) of 1907

Hello Elmer, GLG is a darling among US investors with very high visibility. It outperforms gold. We suggested it near $2 in 2000. The deal is certainly good for us. Not only we get $12 of GLG stock per share at the current price, but we get those ExplreCo shares. I assume this new company will trade public. IMO, it will be worth a lot more than $1.50 on the market when it starts trading. How about $2-$3 based on $25M cash, 2% NSR on Guatemala (Outside Marlin) and possibly some surprises in Nicaragua, Patience is finally rewarding us. Of course, some will say that $13 is at the bottom of FGX NAV. And I agree. It could have been $15-$18 easy with gold at $300. But what we are getting is stock in an aggressive company that will rapidly develop those newly acquired resources. I felt GLG was a bit expensive at $7.63, this merger makes it cheap again. Of course, if you want to sell FGX in the coming days, take the profit and run... there is no problem with that. But I don't think that this will be the best option. Wayne... you are slowly getting rich ! -:) -:)

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