RE: This offer is not too lowFrom the Yahoo Board
"A Few Points Worth Noting"
"1. According to the Company website the total indicated and inferred reserves was 10.5M oz. as of Dec. 2006.
2. They have been drilling like crazy for the last 9 months but have not updated the reserves.
3. In August they announced some very good drilling results with the following excuse for not updating the reserves:
" It was anticipated that a preliminary assessment on Phase II would be completed at this time however management does not see the merits of continuing with a study that does not incorporate the significant results generated during this year's program. Instead, the Company has decided to delay the studies and wait to incorporate this years results and their impact on the resources. Unanticipated delays in receiving assay results are also contributing to the delay. The studies are expected to be announced before the end of 2007"
4. Newmont personnel were on site offering "technical assistance" and no doubt are capable of interpreting how 9mths of drilling results will increase MNG's resources.
Unless Management is trying to conceal something from shareholders, then all available drilling results should be published and be incorporated into a study detailing their impact on reserves.
This study should be provided to stockholders before they are asked to make a decision on accepting the Newmont offer