Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (681)	4/5/2001 12:47:20 PM
From: I_C_Deadpeople	Read Replies (1) \| Respond to of 4051

Good find there Russ..this is going to be interesting in the next little while.

To: russwinter who wrote (681)	4/5/2001 7:55:01 PM
From: Henrik	Respond to of 4051

Franco-Nevada poised to strike more deals 08:47, Friday, 6 April 2001 By Scott Anderson TORONTO, April 5 (Reuters) - With the ink still fresh on its latest deal with Australia's Normandy Mining Ltd., Franco-Nevada Mining Corp. Ltd. said on Thursday it was poised to pull the trigger on a number of other purchases this year, including at least one more big transaction by year-end. David Harquail, Franco's senior vice-president, said the Toronto-based royalty gold company was set to complete a number of small deals involving gold royalties in the next few weeks. And with close to C$950 million ($605 million) in cash on hand, Harquail said the company is well positioned to do so. "In the next few weeks we hope to do some smaller deals," Harquail told Reuters. "We still say we're staying in the royalty business. There's royalty deals that we'll use a small a small fraction of our cash going forward," he said following a mining conference in Toronto. Earlier this week, Franco-Nevada struck a deal with Normandy to swap its Ken Snyder gold mine in Nevada for a share in the Australian gold miner. The agreement will double Franco-Nevada's annual gold production and make it the largest shareholder in Normandy. The deal signifies Franco's return to its roots as a gold royalty company as it retreats from the role of mine operator. Under the terms of the agreement, Normandy will issue 446.1 million shares -- which represent a 19.9-percent stake -- to Franco for 100 percent of the Snyder mine and the surrounding Midas Exploration properties, as well as Franco's Australian interests. The deal marks the first time that cash-rich Franco-Nevada walked down the consolidation trail since its failed attempt to merge with South Africa's Gold Fields Ltd. last year. Last September, the South African government blocked Franco-Nevada's proposed $3.7-billion merger with Gold Fields saying it would not benefit the country's economy. Harquail hinted strongly on Thursday that the company could complete at least one major deal -- in the magnitude of the Normandy agreement -- by the end of the year. "We're looking forward to doing a couple of things in our core business," he said. "In terms of larger transactions, we've got C$950 million in cash." With gold prices down around a level of $258.10 an ounce and many gold mining companies being squeezed by reduced earnings and increased costs, Franco-Nevada can take advantage of the depressed times. "We're just beginning to unleash our potential. We're the only guys that are being proactive in the gold industry. Everybody else seems to be somewhat frustrated in waiting for the gold price to come back. "We're looking at our big bank account and we think it's a wonderful time to buy." ($1=$1.57 Canadian)