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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: gold$10k who wrote (1540)	7/4/2001 10:09:58 AM
From: russwinter	Read Replies (1) \| Respond to of 4051

<delist and reverse split> IMO they will do a reverse split: 5/1 and stay on the NYSE. There are too many shares outstanding. Fundamentally this doesn't change a thing as you have exactly the same market cap, which is now high enough at US 180 million to maintain a listing. <who's running the show> I would think this party has control. Don't know anything about them.: globeinvestor.com <taking suit> This is a given. They will start in local Greek courts and ripen it all the way through to European courts. Ironically, they could very well could win at the Greek high court. The issue is that permits (apparently incorrectly)were issued and indeed TVX wrote a large check to the GREEK GOVERNMENT for the property. In legal jargon this is called "vesting" and that will likely be the legal case. The plaintiffs will argue that TVX was vested at some point (probably long ago) and thus is entitled to redress from the issuing jurisdiction (Greece) for the so called "incorrectly issued permits". In other words TVX was damaged because they spent even more money based upon what they thought were properly issued permits. IMO TVX will win a substantial taking claim (at some point) if permits are nullified by the Greek high court. I'm a developer and this one is really egregious. I still see this in play. Price undetermined, but probably way too cheap. I at least hope somebody like FN will steal it.

To: gold$10k who wrote (1540)	7/6/2001 3:44:40 PM
From: russwinter	Read Replies (2) \| Respond to of 4051

ELD closes out hedge book, uses profits to clean up balance sheet some. Also puts itself on the block. Good stuff. "The Company has reduced its credit position with Rothschilds from US$35.0 million on December 31, 1998 to US$16.2 million on June 30, 2001. In addition, as of July 2, 2001, the Company closed out its gold hedging contracts maturing after December 31, 2001 and all Brazilian Real hedging contracts. The funds from the Hedge Contracts will be applied as prepayment of the ARCA reducing the Company's debt by a further US$1.2 million prior to year end. US$400,000 of the hedge liquidation will be available to the Company for working capital. ``To pursue the Company's goal of maximizing shareholder value, Eldorado's Board of Directors has resolved to seek a Corporate Transaction that may include, among other things, equity financing, asset sales and/or a merger with another entity. I am confident that the underlying value of our gold reserves and resources will form a secure base for sustaining our shareholders' interests,'' said Mr. Wright."