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Gold/Mining/Energy : Echo Bay Mines, anyone (anyone) ((anyone))? -- Ignore unavailable to you. Want to Upgrade?

To: the Chief who wrote (225)	12/29/1997 6:55:00 PM
From: Mr Metals	Read Replies (1) \| Respond to of 300

Cheif, PRESS RELEASE ON TAKEOVERS. Echo Bay Mines Ltd - Journal says takeover potential seen perhaps Echo Bay Mines Ltd ECO Shares issued 139357131 1997-12-24 close $4 Monday Dec 29 1997 Also Crown Resources Corporation (CRO) Also Getchell Gold Corp (GGO) Also TVX Gold Inc (TVX) Also Golden Star Resources Ltd (GSC) The Wall Street Journal reports in its Monday edition that some gold firms see glitter in rivals' cheap stocks. Reporter Bob Ortega says that a depressed market offers the chance to snap up reserves and cut costs. Last week, Homestake Mining agreed to acquire Plutonic Resources of Australia for US$640 million in stock. In addition, several other, mostly large, gold companies say they are exploring acquisitions. Prudential Securities analyst Clarence Morrison says he sees Amax Gold, Echo Bay Mines, Getchell Gold, Crown Resources, Golden Star Resources and TVX Gold as potential targets. Many of these companies, along with other US, Canadian and Australian producers, are shutting down less efficient mines, laying off workers, deferring projects and cutting back on exploration. Goldman Sachs analyst Daniel McConvey says that Canadian and Australian accounting rules do not allow acquiring companies to pool their accounting with companies they buy, which gives US gold companies a financial edge because they do not have to write off acquisition premiums as goodwill. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com Mr Metals