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Gold/Mining/Energy : ECM.VSE - El Callao Mining.
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To: John Soileau who wrote (1017)11/1/1997 7:16:00 PM
From: The Count  Read Replies (1) of 1253
 
I can see where you got C$1.81 from -- wasn't that the high reached in the March runups when the hype on this thread was at a good level.

Canaccord's first buy reccomendation was at 1.50? Will Clive take their ROI into account? Or just those who are buying at current levels? I think with at relatively small purchase like this, he will want to appease investors. 2ndly, bgo/ecm have the exact same management, but not necessarily shareholders - conflict of interest (is there a better term for this?), I think CLive has to make a 100% "fair" offer.
It was in ECM's 1996 annual report that Vargas correctly quoted that
1997 should be the year of investor value and when this was written by clive the stock was trading at 1.50 -- so in March/April 1.50 was the base Clive was looking at. So I would hope Clive continues that thought process started back in March.

And $315 POG --phoee, big deal -- the major's: they're bullish on gold and I think (can someone confirm) pdg/bgo is using 375 POG in the projections for Cerro Casale. So why should we downgrade the value of ecm?

So I think 3$ cdn would be fair, and 1.81 is bare minimum.
For most long-time ecmers, 1.81 would hardly be a decent retrun unless you averaged down big time.

my 2 cents
Vince
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