AURIGINOR INC-M.AUI Huge Volumes Montreal Exchange Message Board

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Gold/Mining/Energy : AURIGINOR INC-M.AUI Huge Volumes Montreal Exchange

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To: John Leather who wrote ()	8/19/1997 4:19:00 PM
From: Francois Plante	of 329

The deal is over!!! The JV with procoloro is over.They met this weekend and according to my sources,Procoloro did not managed to bring in the money.So they mutually agreed to forget about this JV. The Good news:Westpac will provide the money to upgrade the equipement in Panama.Westpac will also provide the money for the buyout(probably with shares (Thats what the actual owners seems to want).They (AUI andWPC) will try to lower the bid for the acquisition(gold is now 325$ ;it was 370 when the wrote the first proposal). Even if this represent a major move,IMHO,it's a good one.This acquisition will bring money and valuation to both stocks.Both Stocks are well managed.The au reserves are most probably higher (geologist St-Julien is very encouraging and told that the reserves are mostly around 3 to 4M onces instead of 1,5). Management is suppose to fly this week to Panama. Aui is a VERY GOOD prospect.

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