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Gold/Mining/Energy : Macdonald Mines
MMP 69.000.0%Sep 25 5:00 PM EST
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To: Rob who wrote (48)2/14/1997 4:41:00 PM
From: David Graham   of 135
 
Funding !!! This is a big concern for me. Does anyone know how much cash MMP has left? When I talked to Smeenk in Nov/Dec he admitted that MMP didn't have enough cash to fund the entire drill program.

The IR guy at MIY confirmed this fact. I wonder when they'll hit a wall. MMP needs to get the cash from the warrants that will be issued as part of this deal. I don't see how stalling is in their interest unless you're right about their escalating claim on the holding company.

I am curious to know what rights MIY is seeking to enforce. They will
be picking up MMP shares cheaply in this merger. Do they think that they can somehow prod the unidentified regulatory bodies into hurrying things up? I'd like more clarification on their position.
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