AGM (VSE) AROYF (OTC) Ag Armeno Mines & Minerals Message Board

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Gold/Mining/Energy : AGM (VSE) AROYF (OTC) Ag Armeno Mines & Minerals

AGM 174.65

-0.3%

10:56 AM EST

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To: Bob Walsh who wrote (283)	6/15/1999 10:39:00 PM
From: Ed Fishbaine	Read Replies (2) of 317

Bob A careful reading of Judge Davies decision suggests that he overstepped his assignment. The issue was jurisdiction, a purely technical matter. Davies dealt with the case on the merits as he saw it. In other words, he decided to decide the case and this was not at all his mandate. AGM will appeal to a 3 judge panel and there is possibility Davies will be overturned. Aside from Newmont, AGM is now seeking a dollar amount for costs and damages as follow up to its judgment against Meruch and PI and the court will soon set a figure. This action against Meruch and PI has nothing to do with Newmont. Once the dollar figure is in hand AGM will pursue its claim in Indonesia. The ball game is far from over. 90% of PI and Meruch's 20% of the BATU HIJAU has been calculated by Newmont itself as having a present value, discounted at 15%, of about $221 million. The Davies decision is slowing things down but will not be significant in the end. As in all legal disputes which involve the courts it takes time. Ed

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