GREY:GUYFF - Post by User
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BBXon Oct 08, 2010 10:12am
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Globe says GUY on Sprott's takeover
Globe says GUY on Sprott's takeoverGlobe says Guyana, Detour on Sprott's takeover radar
2010-10-08 09:38 ET - In the News
Also In the News (C-DGC) Detour Gold Corp
TheGlobe and Mail reports in its Friday, Oct. 8, edition that Sprott AssetManagement manager Charles Oliver says investors will be reaping moreprofits from takeouts, particularly among gold mining stocks. TheGlobe's Martin Mittelstaedt writes that Mr. Oliver says, "There arelots of companies out there that I expect will be for sale andultimately will probably be taken over by the big guys." Mr. Oliversays one name often mentioned as a possible takeout is GuyanaGoldfields. Mr. Olive notes that Guyana Goldfields has amulti-million-ounce gold deposit in Guyana and a large, potentiallyvaluable, land exploration package there. Mr. Oliver says Detour Goldis also regularly caught up in takeover speculation. Mr. Oliver saysthe company is attractive because its assets are in politically safeOntario and it has a multi-million-ounce resource base. Mr. Oliver saystakeover offers are often bitter sweet. Mr. Oliver says after atakeover play "you feel good because you got more money than it wasworth the day before. But one of the dilemmas facing portfolio managersin Canada is every time you lose a company to a takeover you've got totry and replace it with something that was just as good."