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Gold/Mining/Energy : TVX Gold -- Ignore unavailable to you. Want to Upgrade?

To: Edmund Lee who wrote (803)	3/29/2001 3:01:02 PM
From: russwinter	Read Replies (2) \| Respond to of 905

Director fiduciary responsibility: These gentleman have certain fiduciary responsibilities. Their first is to common stock shareholders to deliver the most value for them. Stockholders are the first line OWNERS of TVX. It would be a gross violation to sell out owners (and I have given you remedies)in a scheme to benefit noteholders. The noteholders are as it stands today, creditors, not owners. They have certain protections built into to their agreement. Management's responsibility is to deliver them par value upon note maturity. It is not to dilute the present OWNERS, by delivering 80% ownership to a creditor. To do so would be no different than a business partner taking your investment, and giving you a share of the enterprise, and then calling up the bank and telling them to come pick up the keys. That's not what is happening, and I predict when new management comes on board next week, they will make that clear.