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Gold/Mining/Energy : Royal Oak-RYO

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To: Michael Bidder who wrote (1053)	7/15/1998 10:09:00 PM
From: Madharry	Read Replies (1) of 1706

How was I wrong in my remarks to you? I wish that you had backed up your case for a short sell with some logic that I could comprehend but from my point of view it was your opinion versus the company's, the feasibility firm and the BC government. I sold my position at a loss, because I did lose my own confidence in management, when they failed to raise enough money the first time to complete the mine and I felt misled by a conversation I had with the investor relations person. However if gold had rebounded to $330, and the mine been completed on schedule, I still believe RYO would have been a very profitable investment but of course this is moot now.

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