Royal Oak-RYO Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Royal Oak-RYO

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: MiamiMike who wrote (769)	3/19/1998 12:25:00 PM
From: Michael Bidder	Read Replies (1) of 1706

Mike 85 million Royal Oak Mines Inc RYO Shares issued 140795079 1998-03-17 close $1.5 Thursday Mar 19 1998 The Globe and Mail reports in its Thursday, March 19, edition that Royal Oak Mines must find about $85 million in the next 30 days to complete its Kemess gold and copper mine or it will have to bring the project to a temporary halt. The Globe's Ann Gibbon writes that adding to Royal Oak's woes, its credit rating has been lowered, contractors have walked off the job at Kemess and the project is over budget. Yet Peggy Witte, Royal Oak's CEO and founder, insists it's not on the verge of bankruptcy. She said yesterday $85 million would meet Kemess's immediate cash needs and give Royal Oak a cushion to avoid problems later on. Royal Oak is talking with interested parties about getting it out of its financial distress, and is extremely close to putting the pin in the transaction, says Ms Witte. She disclosed that Royal Oak has even been looking for buyers for the whole company. It has opened up a data room for interested bidders but none have come forward. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next