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Gold/Mining/Energy : Royal Oak-RYO

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To: Bill Jackson who wrote (1568)	12/17/1998 11:48:00 AM
From: Michael Bidder	Read Replies (2) of 1706

The Company is working with its financial advisors to refinance the $120-million (U.S.) of short-term senior secured debentures with a long-term conventional project finance facility at a significantly lower interest rate and expects to complete the transaction early in the New Year. Bill what do you think the prospects for the refinancing are? "What has Kemess earned so far?" I'm still looking. Michael Bidder

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