YBM Magnex Intl Sees Revenue Growth 30-35%/Yr In MagnetOp Message Board

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Gold/Mining/Energy : YBM Magnex Intl Sees Revenue Growth 30-35%/Yr In MagnetOp

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To: Adrian du Plessis who wrote (269)	9/24/1998 7:33:00 AM
From: Mr Metals	Read Replies (1) of 314

YBM's largest shareholders include the British Columbia government YBM Magnex International Inc - Globe says firm faces litany of allegations of shady dealings YBM Magnex International Inc YBM Shares issued 44,222,901 1998-05-13 close $14.35 Thursday Sep 24 1998 The Globe and Mail reports in its Thursday, Sept. 24, 1998 edition that apparently more than $20-million (U.S.) of YBM Magnex International's cash disappeared this summer. The Globe's Karen Howlett and Paul Waldie write that court documents filed in Alberta and an interview with a former director also reveal: YBM was planning to pay $3-million for a dormant Russian magnet plant even though it might have been owned by Semion Mogilevitch, an alleged mob figure; YBM is conducting top secret research for the U.S. Navy even though the company's offices had been raided by the FBI in connection with a criminal probe; YBM's largest shareholders include the British Columbia government; one director, since replaced, asked for a personal loan and another demanded that the company buy back his YBM shares at a time when other investors couldn't trade their shares; YBM was selling a type of industrial powder for less than what it cost to make. YBM officials deny any wrong doing. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com Mr Metals

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