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Gold/Mining/Energy : Royal Oak-RYO -- Ignore unavailable to you. Want to Upgrade?

To: Thomas P. Talbot who wrote (528)	12/6/1997 1:16:00 PM
From: Madharry	Read Replies (1) \| Respond to of 1706

If Royal Oak liquidates shareholders get wiped out. Unless it can find a buyer for the mine. But I think this is farfetched. If nothing else the gov't has probably put in over $100MM and I don't think they are going to let it go down the drain. I don't see gold under $300 for long. My gut reasoning is that most of the mines are high cost mines and they will simply shut down until prices improve. Hedging and therefore leasing of gold will be sharply reduced, and perhaps Canada and Australia will become buyers of gold in order to shore up prices.- All of this of course sheer speculation on my part.