TVX Gold Message Board - Msg: 15579232

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Gold/Mining/Energy : TVX Gold

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To: baystock who wrote (797)	3/28/2001 7:40:54 PM
From: Edmund Lee	Read Replies (4) of 905

<So ? I don't recall saying otherwise. I am not a bondholder and so I don't give a hoot about the total market cap of the company at conversion. But I do care about what price the conversion takes place, ie. at 25 cents per share or at $1. And right now this future conversion price is as clear as mud.> The conversion price would be no less than a dollar. There is a deal with the bondholders that TVX must maintain NYSE listing and $1 is the min requirement. Yes, there will be dilution when the bondholder had their shares but the company can issue poison pills to prevent a take over by issue of warrant or rights to existing shareholder. (say 5 warrant and 5 rights for 1 share)

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