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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: keith massey who wrote (6462)	4/10/1999 7:22:00 PM
From: Rocket Red	Read Replies (1) \| Respond to of 62347

Keith I have my doubts if Anc was hyped by the internet as it was already flying high at opening bell on friday but with the internet a little more fuel probally helped as it does on most but i would suspect something in the works from anc and would bet in a week a pr come out. Cheers.

To: keith massey who wrote (6462)	4/10/1999 10:12:00 PM
From: AriKirA	Respond to of 62347

It looks like management of ANC purposely put a stop to ANC's run. They used a negative tone in their news release for some unknown reason. Not sure if they are trying to hold the price down or what they were thinking? Keith, after having done some digging around, the reason why you got the following impression might be due IMO to the fact that they do not want the price to trade at these levels because: a) they are seeking permission to acquire up to 5% of their outstanding common shares over the next 12 months, commencing March 29, 1999; b) the management Information Circular states that they are seeking a private placement authorization at the next AGM which is being held on April 21, 1999. Now, if the price doubles then they will have to increase the price at which the PP takes place at. Moreover, the Schedule A of the circular states that the authorization of said PP is good for a period of 12 months. Having drafted some circulars myself and knowing the costs involved with said process, one does not include such a schedule if they do not intent to close a PP in the following 12 months. Will post more info on the ANC thread. Kind Regards AK