Ann: PAN: Anglo Pacific Accepts into IAF re MMW , page-3

re: Ann: MMW: PAN: Anglo Pacific Accepts into... PAN doesn't have much discussion at Hot Copper, but I thought I should throw in some comments following this announcement.

My guess is that Anglo-Pacific's acceptance instructions for PAN's offer is a "tipping point" in this acquisition. At least, it will be interesting to watch how many and how quickly other MMW shareholders do the same. Also watching when A-P will include its other 2.8% of MMW shares (on the Cdn exchange).

I'm not trying to "sell" MMW shareholders on PAN's offer, just observing. (If I was trying to sell the offer, I would post this on MMW's site, not here.) PAN made this offer during trying times -- declining nickel prices as well as general market avoidance to mining stocks have suppressed shares of PAN and other miners (large and small).

But PAN has good operations skills (as MMW executives recently noted), which have helped to whether these conditions. It's diversification strategy also makes sense. Resolving the acquisition of MMW, along with improved mineral prices, should eventually benefit everyone.