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amarksp

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amarksp

Re: box927 post# 495

Tuesday, 01/02/2007 10:54:11 PM

Tuesday, January 02, 2007 10:54:11 PM

Post# of 14330
would think this already priced into GBN stock, but maybe not...

Tranter BEE ownership issue has been known for quite some time. Tranter will be "purchasing" some of its stake albeit at bargain terms (my recollection is 15% will be more or less freebies but the remaining 11% will be "purchased". I use 20% dilution for Tranter's BEE ownership. That is, take GBN market cap per ounce and multiply by 80% to dilute for Tranter.

much more of a problem than the Tranter BEE %, IMO, is the financing required for Burnstone capex. sure was hoping this could be done via Hollister cash flow, but Burnstone capex will be required sooner now given Hecla delays at Hollister...



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