Leaving aside the negative impact of the Western Mining-Seabright Resources dispute, the dragged-out uncertainly over flow- through and the general skepticism over Nova Scotia gold prospects, the NovaGold Resources flow- through offering that recently failed (N.M., Aug 29/88) had a fatal flaw. It was offered at no premium.
One suspects that the steady price decline in the shares that doomed the offering was fueled, in part, by wealthy shareowners selling out and then planning to buy back in, at no premium, with whatever tax savings the issue offered. The selling drove the price down and not enough persons bought the issue and all NovaGold shareholders lost. Alan Ruffman President Geomarine Associated Ltd., Halifax, NS Oped stuff
The economic guidelines for an exploration planning seminar, Dec 4-10, led by Dr. Brian Mackenzie, will attempt to develop evaluation skills which enable exploration managers and project geologists to provide economic support for expenditure decisions. Emphasis will be placed on case study analysis and small group workshops.
The seminar will be held at the Donald Gordon Centre for Continuing Education, Kingston. The registration fee, includes accommodation, meals, and seminar materials.
For registration or further information, contact: Alex Zikakis at (613) 545-2221.
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