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Gold/Mining/Energy : Royal Oak-RYO
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To: Thomas P. Talbot who wrote (534)12/7/1997 6:47:00 AM
From: Madharry  Read Replies (1) of 1706
 
you are right on both counts. af course it does not matter if the debt is senior or not. and Kenness does have some value. but in a liquidation a presently non- economic asset goes for liteally pennies on the dollar because all a buyer can do is mothball it and hope the price goes up. That's why i said the book value does not matter. As for undeveloped gold bearing property you can buy those now for pennies on the dollar,
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