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Gold/Mining/Energy : United Keno Hill, UKH, Toronto**** Opportunity Knocks!
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To: seeker1 who wrote (1114)1/28/1999 11:00:00 PM
From: baystock  Read Replies (2) of 1348
 
This company is basically headed for bankruptcy, if you set aside their pretensions of going into production. Note 1 in the 1997 annual report expresses serious concerns by their auditors on their ability to survive as a going concern. This is because of an $8 million working capital deficiency.

One of their liabilities is $4.3 million convertible debenture due end of 1999. At the due date United Keno has the option of converting the principal into shares at a price that is 95% of the 20 day average share price. So if their share price is still low at the end of the year, the debenture holders will end of with most of this company.
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