Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: pezz who wrote (35664)	7/3/2003 8:45:09 AM
From: TobagoJack	Read Replies (2) of 74559

Hello Pezz, Tough-love play by <<NEM>> :0) Newmont Yandal in voluntary administration thewest.com.au NEWMONT Mining Corp's Australian subsidiary went into voluntary administration today ... The move into voluntary administration came after Newmont failed to gain 100 per cent acceptances from Yandal's creditors to acquire their debt claims. All of the creditors had to accept a two-tier offer from Newmont to buy back more than $US400 million in outstanding bonds and gold hedges for $US219 million. Newmont's offer to buy back debt was at 50 cents in the dollar. ... Chugs, Jay

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