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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture
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To: Hopsalong who wrote (5733)10/13/1999 4:20:00 PM
From: ogod  Read Replies (2) of 15703
 
there is no such thing as minor when it comes to debs in a bb deal, now I am not saying that the deb is floorless but convertible debs in bb stocks are always extremely sketchy, at worst they are the kiss of death,as a matter of fact pull up any given nyse stock with convertible debs there 830 of them and you will find that once things go awry the deb holders have a powerfully destructive tool in their hands, and more often than not shareholders end up with wallpaper and the bond/deb holders with the company check out the thread on si re floorless convertibles, given a choice between a senior listed stock and a junior at almost identical prices there is no question what the better choice is, I do have some pyrx left over but to the people late to the action no question elk/etc should be the vehicles of choice
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