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Gold/Mining/Energy : Major drilling TSE-MDI
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To: reg who wrote (18)11/24/1997 7:24:00 AM
From: P. D.  Read Replies (1) of 71
 
I know you would like a company name but it is not for me to reveal. And as I said I can not substantiate this. It was just something that I was told in a conversation. That's all I'll say. If it is true I'm not impressed but I'm sure, quite positive actually that I did not hear all the facts even from this side and I've never heard anything from Major either.
What I am worried about is the collection of diamond drill companies by Major. They have obtained J.T. Thomas and Midwest and I have heard they are interested in Connors as well. If deals can be struck then they are done and there is no way I can stop it. Maybe they are done because the others are in trouble or whatever. I do not know. However it seems as if they (Major) want to monopolize the drilling in Canada. The decline of drilling companies means those juniors looking for a company will have only a few to chose from and the larger those companies get then the higher the rates are due to the fact they now have to sustain a large office bureaucracy. This is similar to large mining companies. Also it must be noted that large mining companies are famous for not finding anything and must purchase it after the fact. Is this going to happen to the drilling industry too? Higher rates will mean fewer holes drilled by juniors which in turn will mean fewer discoveries and of course then the drill companies will have to downsize or raise rates again. Vicious circle. I'm sure Major is a well run company and it has seen the need for expansion and that's fine. I hope that success doesn't go to their head. I of course wish all the investors the best as well. I sincerely hope the company performs well and it is reflected in the stock price.
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