ENERGOLD (EGD.V) Message Board

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Gold/Mining/Energy : ENERGOLD (EGD.V)

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To: Brumell who wrote (79)	1/18/1999 10:09:00 AM
From: keith schaefer	Read Replies (1) of 130

Those options were announced a month ago when the price of the stock was 50 cents, no discount. The warrants were set when the stock was trading at50-55 cents, so they were above market. They're not free trading until April 15, after drill results at Longyear. So if results are bad, they won't get exercised, and if they're good (Please, God) then there will be enough interest amongst industry players and the market to absorb them. That $1 million financing was done under a $97,000 exemption, so the math says there can be a maximum of 10 holders, and ELD took down a chunk. Mgmt took down a chunk. We will work to make sure they are dealt with in the market as the date nears. And it takes a lot of capital to short in the market against options. Not an easy strategy unless you are rrroooolllliinnnggg in dough.

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