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Gold/Mining/Energy : North American Palladium(AMEX:PAL)- PGM Producer

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To: Ptaskmaster who wrote (380)12/21/1999 2:19:00 PM
From: Claude Cormier  Read Replies (1) of 976
 
Ptask,

The debt/notes/preferred/cumulative dividend issue is complex. The large debt carries interest I think, the cumulative dividends will take off up to $5M per year from the annual cash flows...

But this Lac Des Iles property could bring in after tax $30-40 millions in cash flow per year if PD prices can be sustained...

In short we have to like it and I agree... Kaiser will do everyhing to maximize this operation.

But at this point, it is hard to figure what will the common shareholders received...
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