Channel Resources (CHU T) Message Board

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Gold/Mining/Energy : Channel Resources (CHU T)

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To: Bobby Yellin who wrote (12)	7/2/1998 10:31:00 PM
From: John Stokes	Read Replies (1) of 29

The big question for me is can it be prevented Bobby!? I don't like what EET is saying in the circular about shares of CHU held if the takeover is successful. My interpretation from the EET circular is that they may be worthless, sort of putting a gun to the head of CHU share holders. The CHU board have recommended rejection of the offer and of course their jobs may be on the line here with very lucrative salaries. From a dilution point of view it appears some what attractive as the 100% ownership of properties with considerably more financing and 2 million + reserves would leave EET with about 4 million oz. reserves after the takeover should it be successful. I do agree with the CHU independent report that the offer should be higher but from info. received to date I am not confident that takeover can be prevented. I am still holding and waiting for more developments and as you may have noticed each company is currently trying to put their best face on.

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