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Gold/Mining/Energy : Royal Oak-RYO

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To: Donald McRobb who wrote (568)	12/15/1997 3:21:00 AM
From: Michael Bidder	Read Replies (2) of 1706

Bankruptcy looms (est.) EIGHTY MILLION LOST !! IN 97 I am short for obvious reasons. Why would any one give Royal Oak the cash they need to stay afloat when they lost 64 million in the last 9 months. That's over 20 mill a quarter. All this at a higher POG ! This company is currently loosing money at a staggering rate. With the price of gold way down from last quarter and the Hedge book worth much less than before, I predict accelerated losses of epic proportion. At todays price of gold Royal Oak could loose 120+ million/yr or Ten million a month. That's without the Kemess debacle. Kemess -----.54 gms/ton AU & .81 c/lb Cu------- Portrate of a low grade disaster ---Mt. Todd Check my past threads on Pegasus (PGU) and Mt. Todd. If Mt. Todd is any indication of the profitability of low grade deposits Kemess will be a disaster of grand proportion. How come I'm not surprised to see a lot of government money in it. There should be legislation preventing government from going into business. (Sorry I digress). Excert from "The Financial Post" Dec 13-15 edition: Pegasus subsidiary files for protection ........"Were currently in discussions with our lending group...." ......."It is not in the interests of the stakeholders to continue funding...." If that 78 million that Stockman talked about doesn't arrive very quickly add a few million to it. But what is a few million to these guys right. Repeat : "It is not in the interest of the stakeholders to continue funding." Gold better go up fast and hard !!

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