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Gold/Mining/Energy : Bema(Bgo) and Arizona Star
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To: Gutman who wrote (8096)10/28/1997 6:51:00 PM
From: Terry Swift   of 10482
 
If CC generates $300 million a year in cash after operating expenses, Placer doesn't get all of this cash flow until they have recovered their investment. That's the scenario Feline posted. John Anderson is in New York all week with the Placer people but I intend to find out the distinctions between the senior debt and subordinated debt that Placer will arrange and guarantee to see how that affects the split of cash that CC will throw off.

Terry
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