Now Fidelity buys 1,000,000 shares of ECO...
FMR currently owns 10% of the company.
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BOSTON, Mass., Jun 25, 2002 (Canada NewsWire via COMTEX) -- Fidelity Management & Research Company and Fidelity Management Trust Company, of 82 Devonshire Street, Boston, Massachusetts, USA (hereinafter referred to as "Fidelity") announce that certain fund accounts for which Fidelity serves as investment adviser have purchased 1,000,000 shares of Echo Bay Mines Ltd.'s outstanding common stock. Fidelity has control but not ownership of these shares. As a result of the purchase, Fidelity holds 50,851,200 shares (or 10.03%) of Echo Bay Mines Ltd.'s outstanding common stock and warrants convertible into common stock. Fidelity's purchase of Echo Bay Mines Ltd.'s common stock was executed on the Toronto Stock Exchange.
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Geez: together with the 10% ownership of Kincross (and the pending purchase of ECO by Kincross), FMR must be seeing some fairly outstanding value in the current valuation of ECO. |
