It is interesting how the news is slanted around RYO. It seems that the news media only want negative reports on this stock. The reporters might be shorting it.
Canada Stockwatch issued a bulletin quoting the Globe and Mail and it's Saturday Edition of June 27 1998, where it said - "shareholders of troubled Royal Oak Mines yesterday approved lowering the exercise price of stock options granted to directors, officers and some senior employees, but not without heated objections from other shareholders." To put some truth into this, there were no heated objections, 1 person asked if this could set a precedent in the perceived share price at $1.10, and when Ms. Witte explained why they wanted to offer this to the employees and give a reasonable explanation, the subject was immediately dropped, and the resolution approved.
I wonder why the reporter didn't repeat what Ms. Witte said when she stated that the results coming from the mine were better than anticipated. There were so many positive things in the meeting, and all that is mentioned is 1 incident, which was grossly exaggerated by the reporter.
Ms Witte said that gold prices always follow equity prices by about 6 to 8 weeks. When the market turns to equities, you can guarantee that gold will follow upwards about 6 to 8 weeks later. Interesting enough, Bill Ridley in his innercircle letter has said we have turned the corner, and it is now time to buy Barrick, Cameco, and Placer Dome. My stock in Aur Resources jumped .25 today. Are people turning to Gold (equity)? Will the price of gold follow in 6 to 8 weeks? Maybe. |
