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Gold/Mining/Energy : Westmin Resources(T.WMI) -- Ignore unavailable to you. Want to Upgrade?

To: HAZ who wrote (55)	1/2/1998 7:05:00 PM
From: Bill Jackson	Read Replies (1) \| Respond to of 63

HAZ; The base metal majors are a small club, however they will act vigorously to deny turf to another as they are all playing the long term reserves game over the next 25-50 years. So if they can buy with paper they will bid quite high, as the cost of paper is low. Cash bids are often less attractive for tax reasons. A person I know made $15 million on BRE-X, he left Canada and then sold them and stayed away for a year after that. Zero taxes. He also established a foreign domicile, as the Canadian tax authorities could try to get that portion that occurred in Canada if he kept it here. He also felt it was a scam so he could not just sell a bit every year, like you could with a base metal major with a 100 year lifetime. Bill