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Gold/Mining/Energy : GENTRY RESOURCES LTD. (GNY.B - TSE) -- Ignore unavailable to you. Want to Upgrade?

To: WWS who wrote (519)	6/13/2000 4:41:00 PM
From: Len Hynes	Respond to of 601

Hi WWS; It would appear to me that this is a smart move given the current price of Gentry's shares....can also be considered a form of indirect dividend rather than a dividend payout.In other words the potential dividend payout that you refer to, is paid back to shareholders indirectly through through increased net asset value of reduced share float. With respect to your DRILL A WELL proposal, Gentry has its drill program planned for the year on current concessions...mostly through operating interests with such companies as Chevron, Beau Canada, Talisman, et.al. As you may know Gentry is working aggressively towards acquisitions which will give the company larger controlling interests, and thus be able to grow production more rapidly. A dividend payout of $1m towards ~22m shares wouldn't be worth the paper its printed on.Better to put the value back into the shares of current shareholders. Additionally,Should Gentry find itself in a financing need in the "near future", 9% of current shares would have been removed from the market, giving additional leverage and flexibility to the company to raise money (at a much higher price) with less dilution...a WIN WIN situation. Smart move in my mind!!! Len