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Gold/Mining/Energy : CUMBERLAND RESOURCES (CBD) -- Ignore unavailable to you. Want to Upgrade?

To: Bat Man who wrote (362)	7/16/2003 12:13:11 AM
From: jrhana	Read Replies (1) \| Respond to of 393

I think it was a good move. As the attractiveness of their deposit becomes more evident, they will become liable for low ball take over offers. This money gives them the wherewithall to continue indefinitely until and when the right offer comes in. It also gives them more time to define any diamondiferous potential their pipes might have.

To: Bat Man who wrote (362)	7/16/2003 4:43:18 AM
From: crustyoldprospector	Read Replies (2) \| Respond to of 393

Maybe CBD has a buyout in mind, where they do the buying: "WMC has spent $55 million establishing a resource of 22.1 million tonnes of 6.32 g/t gold on the Meliadine West property, but pursuant to a strategic decision to abandon gold WMC has been trying to sell its 56% stake since 2001. Cumberland and Comaplex have a right of first refusal on WMC's interest, and have not been overly keen about generating publicity regarding the project's diamond potential." (link below) If this is what's up, and if the price is right, I think it is highly bullish. It also makes CBD an even more juicy takeover target IMO. Message 19033702