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Gold/Mining/Energy : Royal Oak-RYO
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To: Bill Jackson who wrote (1394)9/28/1998 3:13:00 PM
From: Michael Bidder  Read Replies (1) of 1706
 
The mine has been operating for quite some time now and normally one would expect some hard numbers from Royal Oak. The lack of any such reports leads me to speculate that the news is bad. Royal will delay the announcement of Kemess's performance as long as possible.

Royal Oak is in my opinion slowly cannibalizing itself to stay alive. Once the money is gone the company will announce it is in default of certain loan covenents. This will be the cause the transfer of Kemess to Trilon.

regards Michael Bidder
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