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Strategies & Market Trends : Trend Setters and Range Riders

MSFT 492.01

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Nov 28 9:30 AM EST

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To: Connor26 who wrote (19168)	6/11/2002 10:34:05 AM
From: Connor26	Read Replies (1) of 26752

any thoughts on this gold news from yesterday....The already small universe of gold stocks got even smaller Monday after Kinross Gold announced plans to buy Echo Bay Mines and TVX Gold in a $1.7 billion deal to create one of the world's top 10 gold producers. The deal also calls for the purchase of a 49.9 percent stake in TVX Newmont Americas, a joint venture owned by Newmont Mining. All together, the new entity will have production capacity of two million ounces a year and a market value of $2.3 billion. See full story. Investors responded by selling off Kinross Gold (KGC: news, chart, profile) shares, knocking them down 21 percent to $2.02. TVX (TVX: news, chart, profile) shares were up 15 percent to $1.21 and Echo Bay (ECO: news, chart, profile) shares fell by more than 17 percent to 99 cents. See full story.

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