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Gold/Mining/Energy : Royal Oak-RYO

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To: Serge Collins who wrote (743)	3/18/1998 12:28:00 AM
From: littleguy	Read Replies (2) of 1706

Peg will get the financing. Everybody except mike knows that if RYO gets Kemess fired up, paying off the financing won't be a problem. The only question is the terms of the financing. RYO is desperate, and the terms will not be attractive. "Interested Parties" will make sure of that. Probably the terms will be so bad that Kemess will not be the Jackpot it could be, at least at first. Nonetheless, Peg's got around 3 million shares (or at least had, and I haven't seen any securities statements to the contrary since), and she is not going to want to lose them. Propably that's why Toronto didn't underwrite her before. They knew she was going to be desparate, but she wasn't quite yet. Now she is. Toronto would have been fools to underwrite her before, because they can get such a better deal now. My view is that RYO is desparate, but not all that risky for someone with the capital to spare. What do people think RYO would be worth without Kemess if copper gets to 80-90 range? (Per share) And, what is the current exchange rate?

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