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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge -- Ignore unavailable to you. Want to Upgrade?

To: 1st.mate who wrote (1575)	4/2/2001 8:24:42 PM
From: The Osprey	Respond to of 11802

As I type this my good friend and a regular poster here(Cyril Swim) is in the hospital.Let's all hope and pray for the best for him and a speedy recovery. The Osprey

To: 1st.mate who wrote (1575)	4/4/2001 8:56:23 PM
From: Al Collard	Respond to of 11802

Matey, news on your pick KOB-t: Effective today, the board of Kookaburra Resources has adopted a shareholder rights plan. The rights plan is effective immediately, however, it will require ratification by Kookaburra shareholders at the company's upcoming annual general meeting. The purpose of the rights plan is to provide the directors and shareholders of Kookaburra with additional time to assess and evaluate any takeover bid, if one is made, and to enable the board to explore and develop alternatives in order to maximize shareholder value. The rights plan will also discourage unfair, abusive or coercive takeover strategies. Kookaburra is not presently aware of any pending or threatened takeover bid for the company, however, current Canadian securities legislation permits a hostile takeover bid to be made in as little as 35 days. This allows inadequate time for competing bids to be made. The rights issued under the rights plan become exercisable only if a party acquires 20 per cent or more of Kookaburra's common shares without complying with the rights plan or without the approval of the board of directors of Kookaburra. The rights plan is not intended to block takeover bids and is not triggered by a bid made to all shareholders for all shares that is open for acceptance for at least 75 days. If at least 50 per cent of the outstanding shares have been tendered at the end of 75 days, the bidder may take up and pay for the shares but must extend the bid for a further 10 days to allow other shareholders to tender to it.