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Gold/Mining/Energy : Champion Resources - CHL.vse -- Ignore unavailable to you. Want to Upgrade?

To: T.Bill who wrote (13)	11/6/1998 4:45:00 PM
From: rdww	Read Replies (1) \| Respond to of 176

no one likes dilution - but how else would they have raised money? The talks w/ a South African major are ongoing and getting more interesting and the cash from the PP will allow for further driling which will improve the value of the phosphate deposit. THis should allow for a greater a) buyout or b) investment by a major. Given the record of management - they have worked very hard for shrholders with little in the way of day today pay. Options - which were repriced also - are thier incentive for performance. WHat this release shows is that they have put thier own money again into the company. You could have participated in the PP if you so desired - or even better bought more stock recently below the PP price and not had to wait for it to become free trading.