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Gold/Mining/Energy : CMYN
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To: James F. Hopkins who wrote (572)4/6/1998 10:16:00 AM
From: Peter Fein  Read Replies (1) of 811
 
I don't have the money to sue anyway - ah, the irony.

Anyway, gold is way up over the last few days - something like $18 or so. BTW, let me reiterate this point: the preferred holders are individually limited to 10% ownership of the common stock. The only way they could take control would be in court if the company defaults on providing shares or by acting together. Doubtful.

I've been looking over some old documents & there was a reference to a proposal by the preferred holders to give up their shares in return for some assets. Does anybody know something about this? Casmyn management shot this down - a good long term decision, but they really need a short term solution at the moment.

--Peter
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