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Gold/Mining/Energy : Peruvian Gold Ltd. PVO
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To: Rolly who wrote (529)4/8/1998 10:53:00 PM
From: Andre Koluksuz  Read Replies (1) of 892
 
Thinking of the potential financial bloodshed that may occur between Mr.Henstridge and Mr.Atkinson, I have sold my shares of PVO. This merger, one way or other, will die without the approval of Mr.Atkinson. He bought 18% of the PVO stock and how can anyone expect the biggest shareholder of the company lose on his investment for reasons beyond his control.With this proposed merger the share price of PVO will certainly go further south. Although they are in abetter position to acquire another company for much less, they have in effect sold PVO (together with all the cash) to another god-knows-who junior. PVO mgmt, from the day they approved a poison bill against hostile take over attempts, have chosen to do battle with Bradstone rather than coming to a civilized agreement of some kind. If this thing gets nastier, they seem to be ready to bury the $12M cash in the ground so that Bradstone cannot get their hands on it.

I will still be watching the story. May be I can buy back around 50 cents.
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