Canadian Diamond Play Cafi Message Board

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Gold/Mining/Energy : Canadian Diamond Play Cafi

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To: VAUGHN who wrote (2480)	2/10/2005 1:04:07 PM
From: james flannigan	Read Replies (2) of 16213

Vaughn.When Debeers made a hostile bid for Winspear at C$4,the stock was trading at C$2 on the friday.The next monday the shares opened at the C$4 bid received over the weekend by Debeers.The shares then traded up and below the bid in a tight range.During this time Debeers said C$4 nothing more or we will cancel the deal.After a few weeks of millions of shares traded (sellers beliving Debeers) buyers ARBs knowing another offer was likely from Debeers supported the stock price at the C$4 range.A few more weeks passed and Debeers realized that the threat of walk away was not scaring the big money so they came back with a C$5 offer.I think 20% profit on say afew million dollars would intrest any body with that kind of money for a few weeks investment. James

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