YBM Magnex Intl Sees Revenue Growth 30-35%/Yr In MagnetOp Message Board

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Gold/Mining/Energy : YBM Magnex Intl Sees Revenue Growth 30-35%/Yr In MagnetOp

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To: saif who wrote (124)	5/23/1998 9:44:00 PM
From: robert west	Read Replies (1) of 314

Saif: You ask why the founders of YBM would go public if the company was just a front for money laundering. If it was just a front then the answer may lie in the positions that the founding shareholders kept from the initial offering. Those positions rose in value as the share price rose. The share price rose as the company reported profit from sales in Russia. The suggestion in the media is that those sales did not exist but that the money was possibly derived instead from illicit activities. The original shareholders may by now have sold their stake and pocketed their profits on the rise in the stock price. What a double killing! I have no idea if this was the scheme, but what a scheme it could have been. Turn a profitable illicit business public and reap a legitimate profit on the initial offering.

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