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Gold/Mining/Energy : Royal Oak-RYO

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To: Mike G who wrote (1190)	8/19/1998 11:53:00 AM
From: scott	Read Replies (1) of 1706

mike, i have taken upon myself to do your homework for u as i know u r not a numbers kinda of guy. reading through the 10-Q filed on friday, i noticed that ryo has incurred another 25 million U.S. in debt as a result of a currency derivative agreement that went the wrong way. it seems that when bankers trust and bank of nova scotia came to collect in late june, they didnt have the money to make good on the agreement. as a result, they negotiated to arrange to be paid off over the next 12 months. but what is another 25 million to a company like ryo. oh ya, it ranks senior to to the senior notes but junior to trilon.

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