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Gold/Mining/Energy : Alta Gold
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To: Bucky Katt who wrote (708)4/15/1999 6:06:00 PM
From: Joe King  Read Replies (2) of 749
 
Just talked to Alta. They have 120 days to submit a reorg plan to the courts. They do not know yet if Gearld Metals will work with them but they are working on it. If gold goes up it will help the cause tremendously because they are producing 70,000 oz at Olinghouse and 30,000 at Griffon. (Hedged at $335) They also have to talk to Nasdaq and submit papers to resume trading. They are trying to reduce costs and still keep mining. I think its a flip of the coin- heads we lose- tail we lose.
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