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

To: norwalk hawk who wrote (5171)	12/3/1997 10:31:00 PM
From: Gary L Schultz	Read Replies (1) \| Respond to of 6735

Let's see.... Dollars, Loonies or Solv shares? Hmmm. Which would you want if SOLVQ owed you money? Mike, I wonder if BS is not trying to liquidate the debt with seemingly worthless paper. IMO, it's like buying Manhattan with 27.00 worth of trinkets. Besides, what does BS know about the value of SOLV? Have they suddenly gained some miraculous insight in it's value? I doubt it. It's yet another ploy (IMO) to screw the creditors along with everyone else who has been involved in this stock. After all, why should they be any different? Also, where are they going to come up with another 15 million plus shares to pay off creditors? Remember, there aren't enough outstanding shares to cover the 3 million naked shorts (according to you longs) so where are these shares coming from? This assumes a conversion price of 1.00 per share. And, if it should happen this way, what is going to happen to the stock price as soon as the shares are released? Personally, I would expect a large amount of selling on the part of these "stock rich" creditors. Ergo, the stock price sinks further. Remember, most of the creditors (the company from Canada that sold SOLV half a million in tires) probably aren't all that excited about owning this company's stock - at least not as much as yourself and others are. Regards, Gary P.S. I like, and agree with the arbitrage assessment - such a deal!