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Gold/Mining/Energy : Royal Oak-RYO

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To: David R. Schaller who wrote (565)	12/12/1997 9:08:00 PM
From: Donald McRobb	Read Replies (1) of 1706

Heren is a scary article. Globe says firm sees stock peril if gold continues slide Royal Oak Mines Inc RYO Shares issued 140,795,079 Dec 11 close $2.06 Fri 12 Dec 97 In the News Also Euro-Nevada Mining Corporation (EN) Also Franco-Nevada Mining Corp Ltd (FN) Also Placer Dome Inc (PDG) Also Barrick Gold Corp (ABX) Also Pegasus Gold Inc (PGU) Also Agnico-Eagle Mines Limited (AGE) The Globe and Mail reports in its Friday, December 12, edition that CIBC Wood Gundy Securities predicts in a confidential report published this week that 17 of 19 top companies would see their shares lose from 12 per cent to 100 per cent of their current value in the event that gold were to fall to US$260 an ounce and remain there for a year. The Globe's Eric Reguly writes that Wood Gundy is in fact predicting that prices will rise above $300, while other analysts expect prices to fall to $250. CIBC Wood Gundy said the net assets of Royal Oak Mines would fall in value to a mere C$0.04 a share. Agnico-Eagle Mines' net worth would weigh in at $0.02 a share under the $260 price scenario while Pegasus Gold's would be a negative C$4.74. Barrick Gold would be $3.40 a share, while Placer Dome would be $5.56. Wood Gundy said that at $260 an ounce, Franco-Nevada Mining and Euro-Nevada Mining are the only two gold companies whose share prices stand a good chance of rising from their current levels.

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