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Gold/Mining/Energy : Corner Bay Silver (BAY.T) -- Ignore unavailable to you. Want to Upgrade?

To: Frankly Speaking who wrote (540)	12/20/1999 10:21:00 PM
From: Mark Bartlett	Respond to of 4409

Frank, <<Do you (or anyone else) know what kind of dilution would be required to raise sufficient funding?>> I think that is going to depend upon the final engineering report; while they expect to have a grinding circuit, the degree to which that will be necessary, will govern costs, to a large degree. But relative to other silver miners, they do not expect CAPEX cost to be that high. Thus far they have not had to go to the brokerages to raise money -- that's certaily positive. MB

To: Frankly Speaking who wrote (540)	12/21/1999 12:35:00 AM
From: Claude Cormier	Respond to of 4409

FS, I can say that BAY management has very good contacts in the Toronto area...(like those who took the private placement at $3 last week). I know they want to do it...unless of course they receive a deal that they can't refuse. So if they go alone, they will finance via a combination of debt and equity. The next round of drilling and the results of the metallurgical tests "could" (I think I should say "will"... but who really knows) move the stock much higher if all goes well.... So this would allow for very little dillution... In the end we may end up with less than 15M shares out and all the money to develop this thing. But again, the odds are that a mid-tier or senior will take them over. All will depends on the ultimate size of this thing. The bigger it gets, the stronger will be the odds for a takeover.