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Gold/Mining/Energy : Royal Oak-RYO
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To: Michael Bidder who wrote (1041)7/9/1998 7:46:00 PM
From: Elizabeth Andrews  Read Replies (2) of 1706
 
Michael, how do you know the real facts of this company? If what I read is accurate and apply a little logic sans your hysteria this stock shouldn't have a bid. But it does and there's a lot of smart people out there some of whom just loaned this company US$120 million. The prior sub note holders are now secured so somethings wrong. It appears that the company cash flow cannot support the current debt which implies zero equity value. Yet there are bids? Even on the junk bonds. Can you explain this?
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