TVX Gold Message Board - Msg: 15577766

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Gold/Mining/Energy : TVX Gold

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To: russwinter who wrote (793)	3/28/2001 3:42:34 PM
From: baystock	Read Replies (1) of 905

<<I see a little misinformation about TVX...The gold linked notes do not strike me as the end of the world. The formula as I understand it calls for cash or stock issuance to the tune of 2.761 oz times the POG (260) or 718/1000 note. There were 234 million face value out most recent quarter, so at today's POG, they would have to issue $168 million in new stock to convert.>> Are you possibly unintentionally adding to the misinformation? Can you show me the exact clause that leads you to think that $234 million of debt gets to convert at $168 million ? I have not seen anything to that effect. My understanding is that if TVX does not pay up $234 million in cold hard cash, the debt converts into common shares and will dilute the f* heck out of existing shareholders.

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