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Gold/Mining/Energy : Avenor (avr-tse) - Repap buyout (rpp-tse)
AVR 4.010-4.8%Nov 6 3:59 PM EST
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To: william smith who wrote (45)2/3/1997 4:10:00 PM
From: william smith   of 290
 
Just got off the phone with Repap I.R. person who informed me that the repap's book value fully diluted is .50 per shares. I believe the AVR and Repap deal in it's present form is done. The market is telling us this loud and clear. I believe AVR will come back with a new deal.

Will
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