MILL CITY MIY-V Message Board

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Gold/Mining/Energy : MILL CITY MIY-V

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To: Dennis (Hijacked) who wrote (62)	2/17/1997 12:44:00 PM
From: Rob	of 707

Well, the deal in October (re: takeover) effectively increased MMP.A's share of the project to 65% of the holding company or 32.5% of the project, not including the warrants(but the warrants cost $5mm in total) so this is what MMP was claiming in July. So long term I believe that MMP is better. Don't forget it is trading right now at pre-discovery prices. However if the deal goes through at .705 MMP for each GHMC as was announced you could get $.45*.705= $0.317 MMP for each GHMC which were selling for .26 recently. Your risk here is that the takeover becomes more favorable for MMP.A, I can't see macdonald losing ground only possibly gaining. In either event MIY is no way to play this project b/c the holding companies always get screwed and are to far removed (eg. Bresea and Bre-X, where Bresea's value should be about $18 and not $12) Rob

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