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Gold/Mining/Energy : ARIMETCO INT'L (ARX ON TSE)
ARX 15.35-2.9%Jan 12 3:59 PM EST

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To: Phoenix who wrote (20)1/3/1997 11:50:00 AM
From: Jay Anderson   of 80
 
I heard that the problem was some debentures came due and the creditors wanted immediate payment and were going to take equipment in lieu. Rather than allow their mines to shut down the company went into Chapter 11. The company had hoped that Paradise Peak would be on stream by now so that they could meet their obligations.
This is third hand information.
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