William Resources - WIM-TSE Message Board

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Gold/Mining/Energy : William Resources - WIM-TSE

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To: gmweber who wrote (1016)	5/6/1998 11:31:00 AM
From: EricVdP	Read Replies (1) of 1326

According to the Gold Stock Analyst, financials have been postponed to mid-May because of audit delays. GSA also suggests that the company is looking at selling the engineering group to its employees (mostly for a note) and obtaining joint venture financing for exploration on the properties in Finland and Sweden. GSA says WIM has the cash to pay the May 20 debenture payment, but would like to restructure the debt. GSA suggests a payoff of 40 cents on the dollar would be attractive to the debenture holders, but I expect that the debenture holders would tell the company to go pound slag. Meanwhile, Jacobina is supposedly performing better and production costs there could get down to US$260. That would be a big improvement for the mine and a big help for the company. Stay tuned for more news. The annual report should be interesting! Eric VdP

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