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Gold/Mining/Energy : Canadian Diamond Play Cafi

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To: rdww who wrote (1591)	11/18/2003 10:25:43 AM
From: james flannigan	Read Replies (2) of 16206

MPV buyout.After visiting the Debbeers takeover of WSP Snap lake,it would seem that John Kaisers target on a MPV takeover to be unrealistic at C$5.Debbeers paid C$320 million for 70% intrest in Snap.Kaiser says that Debeers may have paid too much for Snap.The value of the tonnage paid by Debeers was 70% $C320m or C$20.77 per ton.With MPV holding a 36% intrest in 22mt at KL thats =to 7.9million tons.If debeers was to pay MPV shareholders C$20.77 pr ton the buyout price would equal C$179million or C$3.33If debeers were to pay any more than that price,they would be paying more for KL and even more than the so called overpaymet than WSP as per Kaiser.IMO the very top price could be no more than C$3.If JK is right that Debeers will not demonstrate more than the US$2 billion project value to MPV shareholders,then why would they want to pay more for the ore at KL than Snap? Conclusion C$3 is tops.

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