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Gold/Mining/Energy : Dayton Mining (DAY) on TSE & AMEX -- Ignore unavailable to you. Want to Upgrade?

To: menanna who wrote (199)	6/4/1998 6:14:00 PM
From: James F. Hopkins	Respond to of 568

Anna; My jury is still out on the press release, often the message is in the way it's released, more than what they say. This is mighty short notice, and the tactic seems to be trying to play on fear, so far I intend to vote to throw the whole bunch out, their track record of working towards share holder value is dismal. In my opinion they have not done a lot to prove we can trust them, and so far I'm willing to go for a whole new board. ------------- On top of that if MANCHESTER MINORCA had not come in a bought a lot of shares just who else would have, DAY could well be selling a lot cheaper than it is. --------------- BTW if you want to share a long news release it takes up less room on SI's system if you link to it like biz.yahoo.com Jim

To: menanna who wrote (199)	6/5/1998 2:41:00 AM
From: Eashoa' M'sheekha	Respond to of 568

Dayton shareholders hamper expansion By PETER KENNEDY Vancouver Bureau The Financial Post Small Vancouver gold producer Dayton Mining Corp., said yesterday its expansion plans are being jeopardized by a proxy battle with unhappy U.S. investors. In a letter seeking shareholder support for the board, chairman Roland Horst said the company has recently sought at least a dozen merger, acquisition or investment opportunities. It has even considered a transaction with Toronto-based Minorca Resources Inc., which owns 14.8% of Dayton, but has decided not to bid. "Some of these transactions are currently being pursued,'' said Horst.But he said those plans are being hampered by Manchester Securities Corp., the New York firm representing institutions owning 9.7% of Dayton stock.Unhappy at seeing the share price slip from $9 in early 1997, the U.S. group is attempting to oust the board and replace it with its nominees.Dayton shares (DAY/TSE) rose 7› to $1.70 sterday. However, the proxy battle has unnerved the company's bankers, and they have put themselves in a position to recall a $36-million loan. As a result, Dayton will have to shelve expansion plans until shareholders vote on Manchester's proposals at the annual meeting in Toronto in June, Horst said.Analysts said Dayton faces shareholder unrest because it has done a poor job of communicating a clear corporate strategy. They said the company needs to find new assets because its Andacollo mine in Chile is a depleting asset that has not met performance targets.Andacollo produced 18,109 ounces of gold in the first quarter, 5% below budget. "Without growth, there is no upside for the investor,'' said Hatham Hodaly, mining analyst with Salman Partners Inc. in Vancouver. No Comments At This Time Taurus