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Gold/Mining/Energy : ORI Omni Resources, TYG Trumpeter Yukon, AKA Arkona Res.
ORI 41.26+1.5%Nov 7 3:59 PM EST
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To: CLK who wrote (242)9/3/1997 11:33:00 PM
From: Gramps   of 444
 
Chris et al. There was a news release today by BYG which has an affect on the BYG/ORI relationship. (See ISDN Wire Service).
BYG has bought the NSR agreement between Wheaton River and ORI and this will give BYG a minimum of 1% of any net smelter returns on the Skukum Creek property of the sale of the mill etc. Last years ORI annual report only mentions 1% but I believe the original agreement was on a sliding scale; 1% below $80.00 and up to 30% if over $360.
Seems BYG hasn't missed a bet on picking the bones of there JVs.
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