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Gold/Mining/Energy : Westmin Resources(T.WMI)
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To: Bill Jackson who wrote (44)12/17/1997 10:02:00 AM
From: HAZ  Read Replies (1) of 63
 
Bill, is "the Kidd Creekers" Falconbridge ?

I can't see why this takeover is so difficult, you get a bunch of BEAN COUNTERS in a room, give them all available data including the latest drilling results from all exploration, through in some models for Wolverine deposit and come up with a Book Value.

I guess the real question these days are how many times book value should one pay for mining companies ?

If the assets in question are premium assets which I believe Westmin's are, then that should be a factor also. Long life low cost mining reserves will always have value because you can keep mining in boom and bust and keep the cashflow coming in. It's the high cost mines that create problems when commodity prices tank as they have recently.

Shutting down and re-opening high cost mines is very expensive and may not be worth the hassle in today's markets.

Anyway I'm holding on the best deal that I can get.

Cheers
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