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Microcap & Penny Stocks : Echo Bay Mines (ECO) AMEX -- Ignore unavailable to you. Want to Upgrade?

To: TRof WA who wrote (6)	2/22/1998 12:47:00 PM
From: B Hamilton	Read Replies (1) \| Respond to of 52

Possibility of a buy-out? Anything is possible. Amax gold was purchased buy Kinross Gold Corp just recently. It seems to me that ECO would be a good candidate for a company that has enough cash to buy back the forward positions. ECO has very little debt. It is still paying the dividend, (eventhough they announced they would cease paying a dividend). This company has Silver coming in also. In the last stockholders report they said they were increasing silver production and decreasing gold production in certain mines. The buy out of Amax did not do the price of the stock any good at all. As a matter of fact it caused the Stock Price to drop. Amax had a lot of debt which was eliminated in the buy out. Echo Bay is different, no debt but some high operating expenses, and expensive environmental issues. I hate to sound down on this stock, I'd love to see it go up, but it is going to take some good news from the company to brighten me up. You are right about the Gold price fluctuations not effecting the price of ECO, but I think a lot of the standstill of ECO has to do with fear to buy into them after being dropped from the S&P 500. Good hunting, BH