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Gold/Mining/Energy : BRE-X,BSR,ORL,CME,TGC,BYG,CVL,PCR,CBJ,EMT,SPQ,MSM,IRL,NC.
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To: allrich who wrote (33)4/18/1996 12:42:00 PM
From: Fred J Bealle   of 130
 
Ashanti--www.cdn-news.com says AHD has done due diligence wi regard
to IGRC. IGC on tse is cdn corp with holdings that AHD wants.
AHD trades in narrow range. Thin, too.
IGC has 3-6 dollar range, more trades.
Correct me if I got it wrong, but when one company buys another,
the buyer stock usually sags a bit, and the buyee usually rises.
So the tactic here would be to sell your Ashanti quickly and buy some
IGRC stock!
After all, Ashanti must be a lot larger than IGRC and thus move less
quickly in price. The deal (see cdn-news april 1 1996) puts a value of
$6.85 cdn on IGC.
(quote:Ghana Stock Exchange, The London Stock Exchange Limited, the New York Stock
Exchange (symbol ASL) and, as of March 29, 1996, The Toronto Stock Exchange
(symbol AHD.U). Based on the closing price of the GDSs on the NYSE on March
29, 1996, this placed a value on IGR's shares of Can$6.85 each and values
IGR, on a fully diluted basis, at approximately Can$136 million.
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imho this means IGC will go up a buck. AHD /ASL nyse will stay put.
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By the way, why is PARC (can OTC) rising a lot (sank again)? No relation
to ashanti....
fred b
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