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Gold/Mining/Energy : Millstream Mines (MLSM) -- Ignore unavailable to you. Want to Upgrade?

To: Brumell who wrote (528)	11/26/1999 8:28:00 AM
From: hugh thorne	Read Replies (1) \| Respond to of 664

It strikes me that if "all" is riding on this one hole then they must be pretty certain of the outcome. I can't see them setting themselves up for a do or die roll of the dice. There have probably been serious negotiations going on and this hole is the final part of the DD to bring together the deal. Whether it is financing or what, only they know. However based on the stage of this company,ie no provens etc, it doesn't make much sense to sell the company at this point. The purchaser would discount the reserve too heavily and Ernie appears too in love with the reserve to give it away. Assuming financing is underway, the real tax shelter push is over the next 3 weeks. If history holds, they will want to keep the stock down until we are closer to the crunch, that way the investor can look at the market price and see it is close to or above the shelter price AND it lacks the tax preferences of the shelter. I wish we could find out the issue price: my guess 35 cents which makes the after tax cost 17.5 cents. I wouldn't be suprised to see promotion to 50 cents or so; then if the numbers look very very good some run from there, but i ain't holding my breath on that until it happens.