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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Kerm Yerman who wrote (5740)	12/16/1998 7:46:00 AM
From: Buckey	Read Replies (1) of 24900

FMA - Can you say $3 - Imagine if you are still holding out on the IRs and the court now forces you to make good on the commitment. At least at that time the shares were at $7ish so you were only out $2.75 The IRs were for $9.75 I think. As with anything they were obviously way overexposed in one area and not diversified. Another good example is some juniors that had a deal on a gold mine with one of the NEW soviet countries and then that government got overthrown and they cancelled the deal - I cannot remeber the 2 jvs but one was a CDN OTC. That kind of political instability can break these companies. Banro resources - BNRS - Congo took over their mine. I need not go on. Kerm - another story from a Casing/Tubular supplier on a shipment over there. They had to have an armed guard and a stash of cash just to pay off the various authorities just to get the ship unloaded. They had to pay CASH to just about everyone and their dog.

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