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Gold/Mining/Energy : North American Palladium(AMEX:PAL)- PGM Producer -- Ignore unavailable to you. Want to Upgrade?

To: wayne who wrote (303)	7/5/1999 11:06:00 PM
From: Sleeper	Read Replies (1) \| Respond to of 976

Wayne, the current web site has changed from the one I had bookmarked in my browser. Just went there and confirmed your statement. It was pretty spartan, though, and could use some professional design work. The preferred shares are a real problem for investors. Say, for example, the stock goes to US$10 (wouldn't that be lovely?). Then, upon conversion, Kiaser-Frances does two (2) things: 1. Doublers the float and 2. Reduces price/share by 50% Meanwhile, Kaiser-Francis becomes the joker in this card game, controlling 50% of the stock and having made good return on it's investment. Overall, it's pretty clear to me that the conversion of the preferred to common is problematic at best for the rest of the stockholders. JMO. Sleeper