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Gold/Mining/Energy : Greenstone Resources GRE.T or GRERF OTC -- Ignore unavailable to you. Want to Upgrade?

To: Fishfinder who wrote (757)	6/10/1999 1:38:00 PM
From: richard badauskas	Read Replies (1) \| Respond to of 1005

You share my feelings. The current activity could not be due to a loan default as the next major payment is not due for several months (someone correct me if I am wrong). I understand that GRE would be under the obligation of advising the market at that time if a payment were missed, and then there should be a short period of time (my guess is 30 days) before the noteholder could enforce the default or come to new terms with gre. There is a possibility that some of the contractors are pressing for payment for money due. If they refused to continue with their services they would end up in a default situation behind the noteholders and may not receive any past payments due. Someone may care to call gre or raise this issue at the AGM. My feeling is that the stock selldown is due to the weak POG and panic amongst some shareholders to get out at any price. The financing option appears to have bogged down and this may result in serious problems in several months. My guess is that improving cashflow will help gre deal with this problem. I have played these type of situations before and still feel we have a 50/50 chance of coming out alive if enough cash is available and if creditors can see the light at the end of the tunnel.