Echo Bay - 500 Beiträge pro Seite

[traumfrau]

Wie sieht es bei Echo Bay aus ? Die Zinszahlungder Anleihe ist ja neulich wieder verschoben worden...und einige Minen wurde auch getauscht.

Gibt da irgendwas im Bereich Exploration ?

[macvin]

Da wäre ich auch neugierig! Obwohl man mit Echo Bay nicht mehr viel verlieren kann...

[macvin]

Up

[macvin]

Echo Bay als konkursgefährdeter Wert hat noch kaum auf die Bewegungen auf dem Goldmarkt reagiert, könnte aber bei einem deutlichen Ansteig des Goldpreises wieder interessant werden.

Wie könnte die Entwicklung aussehen, wenn sich eine Trendwende bei Gold bestätigen würde? Gibt es irgendwo neuere Nachrichten?

Cu
Macvin

[nippon]

trotz sinkendem Silberpreis explodiert Echo Bay heute um satte 15%. Gibt es neue Nachrichten, oder decken sich jetzt die Professionells ein?

nippon

[thebull 2]

Wednesday September 5, 5:33 pm Eastern Time

Press Release

SOURCE: Echo Bay Mines Ltd.

Echo Bay Proposes Conversion of Capital Securities Into Common Shares;
Shareholders to Be Asked for Approval

TORONTO, Sept. 5 /PRNewswire/ -- Echo Bay Mines Ltd. (Toronto; Amex: ECO) announced today that its Board of
Directors has approved the unanimous recommendation of the Independent Committee of Directors proposing the issuance of up
to approximately 361.5 million common shares, in exchange for $100 million in principal amount of its capital securities plus
accrued and unpaid interest. The capital securities were issued in early 1997 and interest may be deferred for ten consecutive
semi-annual periods. The Company first elected in March 1998 to defer, which has had the result of building up an interest
obligation that must be met in April 2003. At September 30, 2001, the principal plus accrued interest will amount to $159.4
million; on April 1, 2003, excluding the semi-annual interest payment then due, the total would be $183.8 million.

The Company has entered into support and lock-up agreements with Franco-Nevada Mining Corporation Limited and Kinross
Gold Corporation, which respectively hold approximately 72 percent and 15.8 percent of the capital securities. Each of those
companies has agreed to exchange all capital securities owned by it, including any capital securities acquired after this
announcement, on the basis of a ratio which would require the Company to issue up to approximately 361.5 million common
shares in addition to the approximate 140.6 million presently issued and outstanding, assuming all holders of capital securities elect
to exchange. The exchange ratio between the respective aggregate ownership interest of capital security holders and present
shareholders is accordingly 72:28. These agreements are conditional upon 1) 90 percent of the remaining capital security holders
agreeing, prior to the Company mailing proxy solicitation materials to its shareholders, to exchange on the same terms as
Franco-Nevada and Kinross; 2) consent of the Company`s syndicated bankers to the transactions, and 3) receipt of any
necessary regulatory approvals.

The share issuance will be presented to shareholders for their consideration and approval will be recommended.

The Company has, on an ongoing basis, considered strategic alternatives available to it and its shareholders. BMO Nesbitt Burns
were retained as independent financial advisors to assist in this review. Having considered the advice provided by BMO Nesbitt
Burns and all other meaningful alternatives, the Independent Committee and the Board of Directors concluded that the conversion
of the capital securities was the best way to preserve and enhance shareholder value.

The Company is pleased that Franco-Nevada Mining Corporation Limited and Kinross Gold Corporation have agreed to support
the transaction and will urge shareholders to vote in its favour. Management expects to mail proxy materials to shareholders on a
timely basis and proceed to secure all required regulatory approvals to allow for the conversion of all, or substantially all, of the
capital securities for common shares by the end of 2001.

Echo Bay mines gold and silver in North America. The primary markets for its shares are the American and Toronto stock exchanges.

SOURCE: Echo Bay Mines Ltd.

gruss
tb 2

[Kangaroo]

@ traumfrau

ruf doch mal an. Tel. [phone]

gruß das Kangaroo :-)

[gholzbauer]

Nur mal so ...