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Gold/Mining/Energy : Royal Oak-RYO

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To: Madharry who wrote (573)	12/16/1997 4:18:00 AM
From: Michael Bidder	Read Replies (1) of 1706

Please be carefull with your hard earned investment capital. Gary H wrote: <<You have a history related to shorts. Is this where your at?>> Yes I do short stocks. And I have no hidden agenda. I'm not interested in Kemess at any price. Armin SternBerg wrote: <<You have recited vague comments about environmental liabilities,>> Ph the company. Pegasus came clean with me on the phone about their environmental liabilities associated with mine closures I am sure Royal Oak will as well. <<as for the losses the only thing that matters here is cash flow.>> I would'nt know I only understand black ink. << shutting down a mine and restating reserves costs no cash! >> Again the Pegasus example: Pegasus's closure of Mt. Todd. cost 7.2 million to close. Company estimates 5 million/yr care and maintenance. <<... it is difficult to accept your conclusion with no analysis of Kemess, at $360 cost per ounce when the company indicates the it will be below $100>> Coppers gone down. The mining equipment is used. The rock is very hard to crush. The seperation of the copper will be a problum as it always is. RE Mt. Todd. Numbers just don't cut like reality. JCgold wrote: <<I talked to Graham Eacott last Monday and he was very optimistic about the $40 million private placement beig coordinatd by Bankers Trust. We should know within the next week or two at most. >> I am grateful to know that you take my posts seriously enough to respond meaningfully. It will never close. Even if it does it will be sucked into that great void called Kemess. Heaven help the Liberal party next election. No one is answering my questions? 1) WHAT IS THE SIZE OF THE HEDGE BOOK? 2) What will be the (earnings) out of Gaint going forward.

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