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Gold/Mining/Energy : ABER RESOURCES
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To: russet who wrote (1088)3/19/1999 1:21:00 AM
From: teevee  Read Replies (1) of 2006
 
russet,
Folowing is a musing on the 16% interest in Snap Lake, Aber has probably lost and what it might be worth:

Lets see now....for the sake of discussion, assume 100 million tonnes at Snap Lake, so the 16% is a loss of 16 million tonnes of resource worth (assuming the evaluations stand up) about $CDN500/Tonne or $8 billion dollars undiscounted. To be reasonable, I will discount that to 10% or $800 million dollars......If I was an Aber shareholder I would be upset(assuming ABZ has about 50 million shares out fully diluted, that could be a haircut for $16.00 per share). If I was a senior member of a large national law firm, I would short Aber, and then start a class action law suit claiming breach of fiduciary responsibility and duty causing loses to shareholders....It wouldn't take long to get my hooks into the $120 million ABZ treasury and their directors insurance settlements for the rest, or the limit of liability coverage, if below the balance of $800 million.
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