Royal Oak-RYO Message Board

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Gold/Mining/Energy : Royal Oak-RYO

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To: bconard who wrote (756)	3/18/1998 4:15:00 PM
From: littleguy	Read Replies (1) of 1706

Conference Call Impression The default on the senior secured notes resulted from the tradables paybable account going over 3 mil. The 20 day period begins when these note holders officially give RYO notice of the default. As of the conference call, this has not happened. RYO may or may not give public notice when the default notice is officially served, depending on their legal obligation to do so. Possible sources of capital discussed: 1)Possible renegotiation with senior secured note holders 2)Issuance of convertible preferred stock 3)Big if: Partner in Colomac mine? 4)NOT issuance of additional shares of common stock, the time frame is too short to get stockholder approval necessary to prevent stock dilution that would be necessary (>25%) require by exchanges. One more interesting point, confidence, not finance related. The 1.2 mil shares Peg unloaded were due to options recalls, not of her own free will. Same is true for the other guy whose name escapes me at the moment. I would love to hear the impressions of others regarding this call.

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