Vargas
Talk off merger by Amax?? From Kitco chat.
Date: Wed Oct 22 1997 10:55
George Cole (Low gold price impact; more to follow) ID#42953:
Amax Gold weighs options, including merger
DENVER, Oct 22 ( Reuters ) - Amax Gold Inc said Wednesday it was considering merger opportunities as well
as a
restructuring of debt and capital.
Amax reported a third-quarter 1997 net loss of $9.3 million, or $0.10 per share, on revenue of $79.6 million
compared with a
third quarter 1996 net loss of $2.5 million, or $.04 per share, on revenue of $23.4 million.
Gold production was a record 217,781 ounces for the third quarter of 1997, nearly four times the 59,250
ounces produced in
the 1996 third quarter.
In a statement, Amax said it is ''currently considering various options to restructure its debt and capital, which
could include
accessing public debt and equity markets. The Company is also actively reviewing merger opportunities.''
Amax Gold Inc. produces gold in the United States, Russia and Chile and explores for gold in the Americas,
Russia, Australia
and Africa.
Amax Gold is 58.8 percent owned by Cyprus Amax Minerals Co ( CYM ) .
regards
gmweber |
