Yamana Resources INC. T- YRI Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Yamana Resources INC. T- YRI

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Neil Irwin who wrote (1827)	12/8/1998 11:32:00 AM
From: Daytek77	Read Replies (3) of 2346

Neil There is a very clear explanation to the large offers on the board. It is a good news/ bad news story. Remember the financing that was closed back in July? Those units that were sold in $5000 lots are convertible into 9090 shares or $0.55 U.S. (~CDN$0.81) Therefore what is happening is these investors are converting those units into shares which provides capital to the company, which is the good news. The units represent 8,726,400 shares. ONe more point, the units also have warrants attached (4545 shares per warrant) which can be used to buy shares in Yamana for those people exercising their warrants before July 17 1999. Those that are converting their notes are providing capital to YRI. If all the units and warrants are exercised Yamana gets ~$7.7 million in capital combined with recently completed financing and they are set for several years. I would look for large crosses after site visits and/or discussions with management. This will signify the acceptance of the results as legitimate and will the be followed by rapid price movements. The unit holders will not covert if the price is below CDN$0.85, so this is a support level. Here is a link to the July announcement: 192.139.81.46 Tony

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next