'Their most significant holding is WHT and WHT warrants.'
Not too surprising that - check out the respective managements -g- ... canuck ticker for Endeavour is edv.v .... i've been wishy washy on the prospects for the Wheaton warrants, in which i'm interested more than the common, due to their greater leverage because the common is quite a ways from being marginable .... decided to tuck a few away, what the hell they're good for five years, and not think about it much .... a great deal depends on whether Wheaton can get decent financing that doesn't dilute the whole project too much .... well, check this out -
' Wheaton River arranges $150-million (U.S.) financing
Wheaton River Minerals Ltd WRM Shares issued 79,001,620 Jan 22 2003 close $ 1.55 Thursday January 23 2003 News Release An anonymous director reports WHEATON RIVER ANNOUNCES US$150 MILLION FINANCING TO FUND ALUM ...
Wheaton River Minerals has arranged a proposed private placement for minimum proceeds of $150-million (U.S.). BMO Nesbitt Burns Inc. and Griffiths McBurney & Partners are acting as lead agents in connection with the financing in a syndicate which also includes Canaccord Capital Corp., CIBC World Markets Inc., Yorkton Securities Inc., Sprott Securities Inc. and Fahnestock Canada Inc. The private placement will consist of common shares and common share purchase warrants.
Proceeds from the private placement will be used to finance the purchase price relating to the previously announced acquisition of Rio Tinto's 25-per-cent interest in the Bajo de la Alumbrera gold-copper mine in Argentina and 100-per-cent interest in the Peak gold mine in Australia. With the acquisition, Wheaton River will transform itself into the eighth largest Canadian gold producer with estimated production in 2003 of 458,500 gold equivalent ounces (371,000 gold ounces and 6.4 million silver ounces) at an estimated cash cost of $124 (U.S.) per gold equivalent ounce in 2003 (net of copper revenue).
Completion of the private placement is subject to receipt of all necessary regulatory and other approvals including the approval of the Toronto Stock Exchange and the American Stock Exchange.
On Jan. 15, 2003, Wheaton River entered into a letter of intent to acquire Rio Tinto's interests in Bajo de la Alumbrera and Peak. The acquisition is subject to Wheaton River and Rio Tinto entering into a definitive agreement of purchase and sale. Closing will be subject to a number of conditions, including obtaining all requisite regulatory and third party approvals and consents, waiver of pre-emptive rights, satisfaction of customary closing conditions and Wheaton River raising the required financing. Wheaton River expects the acquisition to close by the end of February, 2003. WARNING: The company relies upon litigation protection for "forward-looking" statements.
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