hi Mayer ...
my speculation ...
Well Homestake' s takeover of Prime resources will probably end up with a take-over bid for Kenrich since Prime and Kenrich are working in conjunction with each other on part of the Corey property.
That's my opinion . Few facts follow showing interest in the properties and past and present takeovers in the area.
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As stated in the investor's package,
Kenrich's new relationship with Prime is significant for several reasons ... namely,*** Prime is commited to finding the next Eskay Creek type deposit and one of the most important prospects is the adjacent Corey Property owned by Kenrick,*** Prime stated it intends to take advantage of the extensive infrastructure already in place and a new multi-million dollar mill, and *** Prime has more than sufficient funds to conduct the exploration necessary to develop the Corey property to its full potential.
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Also in Friday, June 5, 1998 Financial Post ....
INVESTOR BUYS CHUNK OF HOMESTAKE (part of article)
German industrialist August von Fink has placed a US$225 million bet on Homestake Mining Co., snapping up a 9.6% stake in the San Francisco gold mining giant.
Homestake is the oldest publicly traded gold producer in the US and has operations in Canada, the US and Australia.
On May 25. Homestake launced a $443 million bid for the 49.4% of Vancouver-based Prime Resources Group Inc. it doesn't already own.
Homestake is eyeing a bigger slice of production from Prime's profitable Eskay Creek gold-silver mine in BC. Some investors have called the all-stock bid inadequate . and it goes on to say von Fink bought 17.3 million shares till May 12 than another 4.4 million ...
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which goes to say lots of buying, talks of takeovers and offers/bids, infrastructures in place, neighbors with great land, some assays out with good results too, goes to say that Kenrich would be in a great position for a takeover if we analyse all the facts. location, location, location !!!
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and another note ...
in the Eskay Creek Deposit,...Exploration drilling during 1989 and 1990 resulted in a remarkable series of share price increases for Calpine($9.50) and Stikine ($67.00), culminating in a competitive take-over of Stikine playing Placer Dome against International Corona (Corona winning out). ... just adding to the interest of the land in the vicinity
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Robert b |
