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Gold/Mining/Energy : Solv Ex (SOLVD) -- Ignore unavailable to you. Want to Upgrade?

To: R.Mark Lubchenco who wrote (5170)	12/3/1997 9:54:00 PM
From: norwalk hawk	Read Replies (1) \| Respond to of 6735

Mark- I hear that Bear Stearns would take the debt before the bankruptcy judge and ask it be converted to shares of stock. I have been told that the Solvex longs have a letter in their hands saying this. Does this mean that Bear Stearns believes that Solvex is a good buy at these prices or does it mean that they have so many naked shorts they need to do something to cover them? Mike

To: R.Mark Lubchenco who wrote (5170)	12/4/1997 10:36:00 AM
From: TheDuke	Read Replies (1) \| Respond to of 6735

Why did Bear Stearns try to buy the Phemex/Deutsche Bank 33 million dollar convertible? Let's see, 60% of $33 million is $19.8 million. Yet it only converts into 1,016,000 shares of Solv-Ex stock. Some Arb! If you really believe that Bear Stearns is only interested in arbitrage, I'd like to show you some land located nearby Alligator Alley, between Naples and Miami, Florida. I'm sure that you could develop some retirement condos there. Maybe the Bear Stearns division in the Cayman Islands could finance the project. Care to buy?