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Gold/Mining/Energy : Exall Resources/Glimmer Resources -- Ignore unavailable to you. Want to Upgrade?

To: E. Charters who wrote (847)	2/27/1999 8:58:00 PM
From: Winzer	Read Replies (1) \| Respond to of 1319

Eric, I like your conviction (to an impending take-over). I hope it comes to pass. That being said, I can only see a "face-saver" special. i.e. a friendly take-over. My analysis of the control by the separate entities suggest that EXL/GME is an investment for the principals of either company with the shareholders in for adda-boy crumbs/spoils. This play appears to have been a game of chicken NO winners. The least of which are the shareholders. So based on the foregoing, a friendly takeover would be welcome. Why now? Why not? i.e. before the drilling results ae announced (implies increase in proven reserve) the cost of the potential ore will command a lower bid price by the suitor. From the PR's and local history, I think that we can expect fabulous drilling results. But what would be the use? Any half decent fund manager will not permit litigation discounted shares in their fund. So it would be up to the individual shareholders to carry the stock. If your hunch/information is correct, it would be one instance where I would gladly admit that I was wrong in bold letters on this thread. Good luck with your IPO. The only place I know that MAY have 0.50/125 is a tiny gold mine in Ecuador. Actually this company had an association with Denison Mines (known to most Exall players) almost 20 years ago. Drilling program to commence in mid-summer. Winzer