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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture
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To: Check who wrote (2697)5/22/1999 8:37:00 AM
From: Bob Walsh  Read Replies (1) of 15703
 
It is possible that KOB needs the cash within a short time (perhaps to exercise an option that expires shortly). If that is the case (big if), then they chose the way that is probably the best way: results in lowest share dilution (no chunks of stock to a broker as a placement fee) and most equitable (even though I am a citizen of USA and can't take advantage of it). Probably the offering of rights had to be limited due to time consuming registration requirements (in those areas excluded).

Regards,
Bob
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