Although the following news is not related directly to Kenrich Mining, it does refer to the area around Kenrich as stated in the previous messages and shows the continuous interest in the surrounding areas ...
GLOBE & MAIL ... Saturday, July 4, 1998
under section " INVESTOR ALERT"
BUY : Prime Resources Group Inc.
Analyst John Ing of Maison Placements Canada in Toronto says Homestake Mining Co. of Sanfrncisco has finally done the "right thing" by making a $440-million bid for the 49.4 per cent of Prime it doesn't already own. But he believes that, unless Homestake sweetens the bid, it will fail. He points to Prime's abundant cash flow, cash hoard, low-cost ounces, high grade reserves, excellent exploration potential and tax synergies, Prime owns the Eskay Creek gold mine in northwestern British Columbia, which is considered to be one of the highest-grade gold and silver mines in the world. Every ounce is a profitable ounce, Mr. Ing says. The Homestake bid, which is a share swap equal to $11.80 a share, should be topped up by at least $1.50 a share in cash, he argues. " We like Homestake paper, we just want more of it and/or some cash to sweeten the deal", Mr. Ing says. "Size does matter. Until Homestake sweetens the bid, we continue to recommend the Prime shares be purchased."
The next Bre-X , not ... hopefully, the next Eskay Creek ! |
