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Gold/Mining/Energy : Royal Oak-RYO

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To: Mike G who wrote (1008)	6/23/1998 2:28:00 AM
From: Michael Bidder	Read Replies (1) of 1706

Mike my opinion for what its worth is that the operation at Kemess is not going to stay open in this commodity market. The new owners will sit on their asset and wait for higher prices to arrive. Royal is in its final stages of death. Once the company defaults the courts will award the assets to the creditors. I know I'm not "Mr. Popular" with some folks but this is really the likeliest course of events based on the financial situation that the company has gotten themselves into in the course of the last few years. Note Pegasus is now at .19 cents and really should be in the negative numbers. Royal Oak has just not arrived at its true value ...... YET. Michael Bidder

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