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Gold/Mining/Energy : ARMADA GOLD(AAU) or ADRIAN RESOURCES?
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To: Matt Lombardi who wrote (38)11/22/1996 1:54:00 PM
From: stanley new   of 51
 
Matt: At a recent investment, I met two men from the geology dept. of Adrian at a booth they had set up. They said the feasibility study is due by Nov. 27. After that date, they expect serious discussions of a buy-out of Adrian by one of the majors. They did not say so, but I got the feeling they expect other majors to also be interested and they definitely plan on a complete buy-out. You probably know that Adrian hired a firm to help them protect and maximize stockholder value during this process. Patience comes hard for me, but I think patience will prove to be a virtue in this case.....Should hear something soon.....sn
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