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Gold/Mining/Energy : Canadian Microcaps

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To: Gulo who wrote (56)	4/10/2003 10:23:24 PM
From: Ciao	Read Replies (1) of 817

Re TIM: Gulo: I am trying to get clarification on the tender offer. It makes more sense if TIL was to backstop the offer in such a way that if minority shareholders do not tender 4M shares, they would tender theirs (ie. 7M guaranteed from TIL to Becanour, 4M prorated). Is that what they're trying to say? If TIL tenders all 11M shares out of the float of 24M, effectively shareholders would get filled on no more than 1/6 (4/24 M) of their shares. TIM has been in dire financial straits for 2 years, I see the change in ownership of the company as being very positive. Have you checked out how TIM fits into Safeguard's portfolio? safeguardintl.com The company turned around last year and reduced debt by a third. From my experience, the tender offer will squeeze out weak hands (stock is illiquid, there are institutional holdings) and TIM should do the same in earnings as last year. I've followed TIM for the last little while, but their financials scared me. Guess I waited for someone else (Safeguard) to do some DD for me and to make an investment in the company first. Keep on digging and tell me what else you find about TIM. What other stocks interest you? Ciao

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