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Gold/Mining/Energy : Royal Oak-RYO

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To: Al Cern who wrote (864)	4/13/1998 2:07:00 AM
From: Michael Bidder	Read Replies (1) of 1706

Al Cern I am concerned that the last press release my divert investor focus from the real issues; Will Royal Oak be able to close the Financing and MORE IMPORTANTLY if so what is the fiscal situation of the company going forward? My source, as I have stated before, is convinced that Kemess is uneconomic at $350 gold and $1.00 copper. Some of these voices were ignored when the financing was being arranged. One can imagine the compelling reasons to go forward despite the misgivings of certain mining engineers. I have found your posts in the past to be very informative. Would you be able to show the effect of LIBOR + 6% on Royal Oaks survivability? Thanks -Michael

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