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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF -- Ignore unavailable to you. Want to Upgrade?

To: Glenn D. Rudolph who wrote (11088)	12/29/1997 7:42:00 AM
From: Glenn D. Rudolph	Respond to of 22053

Cheap gold stock prices spur acquisition hunt -WSJ Reuters Story - December 29, 1997 03:32 %GDM %CA %MET %US %GOL %MRG RGLD BMG AU ECO.TO GGO.TO CRRS GSR GSC.TO TVX.TO NEM ABX.TO V%REUTER P%RTR NEW YORK, Dec 29 (Reuters) - A steep decline in price of gold stocks has encouraged large gold companies to explore acquisitions, the Wall Street Journal said. The companies see a chance to snap up promising reserves at reasonable prices, which could help cut their production costs, it said. Gold stocks have dropped recently as the price of gold has fallen below $300 an ounce to 18-year lows. "We see this as an opportunity to pick up some good properties," it quoted Karen Gross, a vice president at Royal Gold Inc of Denver, as saying. Battle Mountain Gold , of Houston, has also positioned itself to whether the storm while looking for good deals, it said. The newspaper reported that Prudential Securities Inc analyst J Clarence Morrison sees AMAX Gold Inc , Echo Bay Mines Ltd , Getchell Gold Corp , Crown Resources Corp , Golden Star Resources Ltd and TVX Gold Inc as potential targets. Many of these companies, along with other U.S., Canadian and Australian producers, are shutting down less-efficient mines, laying off workers, deferring projects and cutting bank on exploration, it said. But Newmont Mining , the biggest gold mining concern outside of South Africa, and Barrick Gold Corp say they are not actively shopping for acquisitions, it said.