St Andrew Goldfields Ord STADF

SAS a Take Over Target? Price Action Says So?

[stanley]

Winter:

Globe says St. Andrew, East Asia look appetizing

2010-10-08 10:22 AT - In the News

Also In the News (C-EAS) East Asia Minerals Corp

The Globe and Mail reportsin its Friday, Oct. 8, edition that recently announced bids for Canadiancompanies have offered sweet premiums, typically ranging from 20 percent at the low end to more than 40 per cent above the share pricesprevailing before takeover bids are announced.

The Globe's MartinMittelstaedt writes that the gains have not stopped there because once atakeover bid is announced, speculators and hedge funds inevitably pileinto the stock of the target company, driving prices higher still.Maison Placements Canada analyst John Ing believes the current takeoverfrenzy has legs.

Sprott Asset Management manager Charles Oliver, "Thereare lots of companies out there that I expect will be for sale andultimately will probably be taken over by the big guys."Mr. Ing says a junior that could interest an acquirer is St. AndrewGoldfields, a company with "a pretty good spread of land in Timmins."East Asia Minerals is another miner Mr. Ing believes is ripe for thepickings. He says East Asia has one of the best undeveloped golddeposits in the world in Indonesia. He says, "That's one that I thinkprobably a year down the road the majors will be fighting for."