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Gold/Mining/Energy : Homestake Mining -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (401)	7/20/2001 10:34:55 AM
From: Rarebird	Read Replies (1) \| Respond to of 415

<Did I say something about the shareholders getting a screw job? That the buy was a sell out?> As usual, you miss the crucial point: HM is low on cash and cannot afford to develop these reserves on their own. This is why their hedge book increased during the first half of this year. That is why they merged with ABX. Merging with ABX is the best thing that could have happened to HM shareholders, given the circumstances. I fully support this merger and will vote "Yes" to it with my block of shares. It was well known by all parties that Veladero is a great property that is still largely untapped. This is why ABX paid a 31% premium for HM. What is wrong in owning 53% of the greatest gold mining company in the world? Hopefully, this will allay some of the fears amongst Market Participants that ABX grossly overpaid for HM. Once this merger is consummated in the 4th Quarter, I expect investors to return to the shares of ABX with a passion.