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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: grayhairs who wrote (2678)	5/22/1999 2:39:00 AM
From: Check	Read Replies (3) \| Respond to of 15703

Wow Grayhairs, <<Yeah Check, big F'n deal !! The ineligibles get a whopping "few pennies". But, you "eligibles" get to take down the rights prorata long after the kill. "Eligibles" get to decide at that point if they want to add to their holdings at $0.90/share !!!! Sweet F'n deal. Oh well, smile all the way to the bank, Check. You certainly do deserve it with all the DD and effort that you have put into this one.>> Did I not mention to you on Wed. night, as you were enthusing about the rights issue that: <<Well, it's the right move but not as altruistic as may seem at first sight.>> ??? And let me assure you, at that point I didn't even know about the geographical restriction!!! Can I help it where I live?? I also advised you I was out of the stock by Thursday, again nothing to do with the rights issue but due to the fact that there were better ELH deals out there. Sorry I tried to clarify some of the confusion about the value of the rights here on Fri. a.m.. I did not mention the "eligibles" and "ineligibles" because it took me till Friday afternoon to clarify the information first posted by Rick in # 2648. As soon as I confirmed it, I reported here: "I.e., just as I suggested to you that this was not such a terrific deal, I'm now suggesting that the ineligible shareholders will get a few pennies out of it." Sorry I joked "I've put in a bid already. (ggg)" Being left out, you have a right to be bitter. I'm out also, by virtue of having sold. I'm also overloaded with PYRX and HTP so I won't be buying any of those KOB rights myself. On the other hand, I know some people who might buy a few. Sure it's not fair, but how else are the "ineligibles" going to get anything out of this?? ALSO, <<The most leveraged play is clearly HTP, hands down !! (And, if one adds in another 2,500,000 F/D shares for KOB, to reflect the pending dilution by Check and the insiders <gg>, the difference in leverage is even more apparent).>> I disagree. Regardless of my participation <gg>, the max. dilution I see is 2.4MM shares on KOB.(BTW, IMO, everybody, insiders excluded, would have been better off had they waited another week and issued 1 MM shares at the post-kill price.) More importantly, at the Friday closing prices, the most leveraged play in ELH "hands down" is PYRX, (followed by HTP). That's why I switched, rights notwithstanding. Yeh, I've put a lot of 'DD and effort' into this one. CIO and pleasant dreams