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Strategies & Market Trends : Alamos Gold -- Ignore unavailable to you. Want to Upgrade?

To: Al Collard who wrote (2584)	5/14/2002 6:38:50 AM
From: Al Collard	Read Replies (1) \| Respond to of 4470

NT-t...in the news: Globe says Nortel Networks a market darling gone bad Tue 14 May 2002 The Globe and Mail reports in its Tuesday, May 14, edition that Nortel Networks fell to its lowest point in almost a decade Monday, after the firm told regulators it may raise up to $2.5-billion (U.S.) through the sale of securities over the next 25 months. The Globe's Simon Tuck writes the filings will allow Nortel to issue common and preferred shares, subordinated and senior unsecured debt, warrants to purchase equity or debt securities, or equity units at any time during that period. Nortel says the move provides it with greater financial flexibility, but analysts say it signals the company does not expect its weakened financial picture to improve any time soon. Last month chief executive officer Frank Dunn said he was satisfied with Nortel's cash position. However, after Nortel's announcement Monday, investors did not seem as confident. Nortel shares fell as low as $3.56 (Canadian) during intraday trading, before ending the day down 21 Canadian cents or 5 per cent at $4.03 (Canadian) on the Toronto Stock Exchange -- their lowest closing price since Oct. 4, 1993. The Globe says most analysts say the filings mean Nortel does not expect its business to pick up any time soon.