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Gold/Mining/Energy : CFV - Camphor Ventures
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To: wenderson who wrote (230)7/20/1998 10:02:00 AM
From: Al Krasberg  Read Replies (2) of 407
 
1) At the last AGM the directors voted themselves a couple of million shares of options (I think it was options) using all the proxy forms that people like us sent in, diluting our holdings significantly. My feeling is they would do the same thing again if given the chance.
2) They voted against the merger with MPV. Why? My guess is so they can get more and more of Camphor in their hands before the merger actually takes place.
3) This merger would have directly benefited the other shareholders (us!), giving us a higher-valued holding in a more liquid company.
4) As explained to me by MJB, new management voted in at the AGM would do the deal with MPV ASAP at 4/10 of an MPV share for each share of CFV, PLUS CFV would remain a company with some residual value.
5) Another thing they MIGHT be able to do is get back some of what the present directors took.

Take a look at the CFV price. It's a long way from 4/10 of the MPV price, and it's about as liquid as coprolite (fossilized dinosaur crap).
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