What To Do With Aur

Article Excerpt

AUR RESOURCES $41.85 (Toronto symbol AUR; SI Rating: Speculative) (416-362-2614; www.aurresources.com; Shares outstanding: 98.4 million; Market cap: $4.1 billion) is up over $10 since Teck Cominco announced a friendly $4.1 billion cash and stock takeover bid for the company. Under Teck’s offer, each Aur shareholder will receive a pro-rated total of approximately $30.75 in cash and 0.2187 of a Teck share. That’s based on Teck’s plan to pay out a maximum of $3.1 billion in cash and to issue a maximum of about 22 million shares. At today’s price for Teck, that works out to $41.85. We first recommended Aur as a Pick of the Month in January, 2002 at $3 a share. That works out to a 1,295% gain for our readers on today’s share price. Aur’s board of directors has approved the Teck Cominco offer. We think the deal will go through, and recommend that you hold your shares. shares…