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Gold/Mining/Energy : Canadian Microcaps
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To: Ciao who wrote (48)4/6/2003 1:35:26 PM
From: Gulo  Read Replies (2) of 817
 
I've steered clear of XNS because it already has a following and because I am not too excited about the growth prospects. I could be wrong on the latter point, but the fact that speculators are already speculating on XNS diminishes my interest in it.

Re: TIM
Let me get this right:
1) The company has $30M current debt because the credit facility has not yet been renegotiated.
2) Timmins is retiring and selling his shares to Safeguard, resulting in a change of ownership. That plus the PP implies recent DD was done to ensure the current debt can be handled.
3) There is an offer on the table to buy at least 20% of your shares at $1.10.
4) The business has reasonably high barriers to entry and is profitable, with prospects for growth.
5) Liability for environmental remediation is a long way off.

So far so good. What am I missing?
-g
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