second strike, page-25

From the evn thread:

---- 8< ----
Dear EVN holders,

I have some thoughts and queries, perhaps you can help me out.

Recently this company annoucned a $200m credit facility, with the ability to draw it down immedietely at any time. Now i don't know a great deal about EVN but this doesn't make much sense to me UNLESS they are looking at taking out another goldie. The reason i say this is because the company doesn't need this kind of scratch to run existing operations.

So my question to the savvy EVN holders is which smaller company does it make sense for EVN to take out. Which companies assets make the most sense to buy???

So far i have thought of four companies that may make sense:


1. IGR. 500 mil mk cap and operation in Eastern Goldfields. More high quality Aussie assets.

2. TRY $400 mil mkt cap. Makes sense if EVN looking to diversify to lower cost bases in Brazil and Argentina.

These two would be a combo of scrip and cash.

3. RMS. $160 mil mkt cap. Two goldfields operations. Could pay all cash ($200 mil) representing a 25% premium.

4. FML. Similar to RMS. Could pay all cash.

Any thoughts????????????????????????
----8<----

i really hope this deal will be blocked - as i think there ARE opportunities out there without giving up control !

think of EVN investing in FML ... $100M for 25,1% ...