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Gold/Mining/Energy : Royal Oak-RYO

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To: roger fontaine who wrote (1652)	3/26/1999 8:31:00 AM
From: Daniel Chisholm	Read Replies (1) of 1706

Roger, thanks indeed for the update. Where did you get it? Since I am still short (in fact, I significantly increased my short position recently), news of the twists and turns are still very much of interest to me. Michael Bidder, I think that in some sense "it's over", however the devil is in the details. There is now no way, no how (IMO) that any value can be salvaged for the common shareholders. However many others also have exposure to this (senior and junior creditors, suppliers, employees, etc). Hopefully the bankruptcy of the company can be resolved in the least painful and least wasteful manner. Prior to Royal Oak I'd never heard of Judge Farley, but (from the news releases at least) it sounds like he's running a pretty tight ship. - Daniel

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