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Gold/Mining/Energy : Bearcat (BEA-C) & Stampede (STF-C) -- Ignore unavailable to you. Want to Upgrade?

To: Harley who wrote (659)3/19/1998 10:31:00 PM
From: Dale Schwartzenhauer  Read Replies (1) | Respond to of 2306
 
Harley: I noticed from the SEDAR info that someone posted, that a number of shares can be taken up without having to own the rights. If the rights aren't worth buying, as is the case, there won't be a problem of allocation. While these shares would be above market, there is also a tax flow-thru available which effectively reduces the basis to zero. Combined with the ability to acquire a huge position off the market, this may be too tempting to Esso/BKP as a method to increase their interest in the play. It will be interesting to see if new reporting insiders are created as a consequence of the rights issue. Of course, that information won't become known until after the Apr 1 sale. Just another twist.

Dale



To: Harley who wrote (659)3/19/1998 11:11:00 PM
From: Keith Minler  Respond to of 2306
 
Hi Harley, I asked John Mcleod that question two weeks ago, he said emphatically no. If the rights issue doesn't work he would do a private financing.

Realistically it would be very difficult to get approval of a change through the ASE, at this late stage. Hell; I still don't have official notice of the original offering.

There is a mechanism to modify the warrants but that is rather moot at this point.

Later

Keith


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