Peter,
This is an exerpt from the National Post:
There is some compelling evidence supporting the theory Euro-Nevada and
Franco-Nevada are on an Aber buying spree. Last fall, Pierre Lassonde, president of both
royalty companies, was in Antwerp, Belgium -- the center of Europe's diamond trade --
to gain first-hand knowledge of the precious gem business.
Franco-Nevada and Euro-Nevada have amassed about $950-million in cash and have
stated repeatedly over the past year they are looking for investments.
In an interview earlier this month, Seymour Schulich, chairman of both Euro-Nevada and
Franco-Nevada, told Dow Jones "we'll probably make an entry into diamonds in the next
twelve months," but declined to be more specific.
Finally, the bulk of stock trades over the past eight weeks have been made by First
Marathon Securities Ltd., the brokerage of choice for the two mining royalty firms.
"A lot of us are expecting some kind of announcement coming from Franco and Euro,"
said one analyst, who asked not to be identified.
First Marathon has also been a big SUF buyer.
Thanks to the Aber thread for finding this.
PHIL |
