GREY:KXLAF - Post by User
Post by
Alcuinon Aug 21, 2001 4:18pm
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Post# 4118027
Placer Dome and Etruscan
Placer Dome and EtruscanI see PDG owns almost 4.2 million shares of Etruscan (T.EET) or 11.15% of the company. EET has 50% of Samira Hill, mine construction to be complete end of 2002, one advanced project and several decent looking exploration permits in Africa. The big play for EET right now is a diamond project in SA for which they are about to get financing. I think these shares are from an old JV in the 90's, so it's interesting that Placer is holding on to them as juniors are running out of cash left and right. EET's forecasted cashflows are impressive (see annual report of July 31, 2001) on website or SEDAR. EET also happens to hold a big chunk of Novagold (T.NRI), 2.1 million shares or something. Incestuous little business, gold.
I'm curious: what other big stakes does Placer have in juniors? Where can I find out that information? I've checked financials and annual reports and I don't see it there . . . but I could have missed it.