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Gold/Mining/Energy : Royal Oak-RYO

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To: scott who wrote (1002)	6/16/1998 1:43:00 PM
From: Michael Bidder	Read Replies (1) of 1706

Scott. I agree with you. This company is going to run out of cash as the operation in Kemess is absolutely in the red BIG TIME! Soon it will be curtains. Pegasus's May 29 Bankruptcy announcement to the stockholders: "...Based on evaluations of the Company's assets at current gold prices, the preliminary work on the Plan of Reorganization indicates that common shareholders of Pegasus Gold Inc. are unlikely to receive any value..." Pegasus (PSGQF) .19 cents US. It was de-listed from all exchanges. Michael Bidder

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