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

To: Madharry who wrote (573)	12/15/1997 11:55:00 PM
From: JCgold3	Read Replies (1) \| Respond to of 1706

Armin, excellent ,controlled response to Mr. Bidder. If his logic is the same logic used by all of the current shorts , it makes me feel much more comfortable with my substantial long position. I always welcome negative views as much as I do positive ones as they educate and help me to keep my emotions on individual stocks under control. The key is that both positive and negative views must be substantiated or identified as speculation or IMHO. Thank you to the many posters on this thread who do their homework and continue to make this thread one of the finer ones on Silicon Investors. Incidently, I talked to Graham Eacott last Monday and he was very optimistic about the $40 million private placement beig coordinatd by Bankers Trust. We should know within the next week or two at most. In event RYO has other options if there is a problem (government assistance, equity offering, joint venture, etc.). No risk, no reward. Who would have thought they could pick up shares of RYO at these prices 6 months to 9 months ago.

To: Madharry who wrote (573)	12/16/1997 4:18:00 AM
From: Michael Bidder	Read Replies (1) \| Respond to of 1706

Please be carefull with your hard earned investment capital. Gary H wrote: <<You have a history related to shorts. Is this where your at?>> Yes I do short stocks. And I have no hidden agenda. I'm not interested in Kemess at any price. Armin SternBerg wrote: <<You have recited vague comments about environmental liabilities,>> Ph the company. Pegasus came clean with me on the phone about their environmental liabilities associated with mine closures I am sure Royal Oak will as well. <<as for the losses the only thing that matters here is cash flow.>> I would'nt know I only understand black ink. << shutting down a mine and restating reserves costs no cash! >> Again the Pegasus example: Pegasus's closure of Mt. Todd. cost 7.2 million to close. Company estimates 5 million/yr care and maintenance. <<... it is difficult to accept your conclusion with no analysis of Kemess, at $360 cost per ounce when the company indicates the it will be below $100>> Coppers gone down. The mining equipment is used. The rock is very hard to crush. The seperation of the copper will be a problum as it always is. RE Mt. Todd. Numbers just don't cut like reality. JCgold wrote: <<I talked to Graham Eacott last Monday and he was very optimistic about the $40 million private placement beig coordinatd by Bankers Trust. We should know within the next week or two at most. >> I am grateful to know that you take my posts seriously enough to respond meaningfully. It will never close. Even if it does it will be sucked into that great void called Kemess. Heaven help the Liberal party next election. No one is answering my questions? 1) WHAT IS THE SIZE OF THE HEDGE BOOK? 2) What will be the (earnings) out of Gaint going forward.

To: Madharry who wrote (573)	7/15/1998 1:53:00 PM
From: Michael Bidder	Read Replies (2) \| Respond to of 1706

Armin Sternberg was wrong! Your post on Dec. 15 <<<The only thing clear from your comment is that you are short. You have recited vague comments aboiut environmental liabilities, as for the losses the only thing that matters here is cash flow. shutting down a mine and restating reserves costs no cash! Based on your self- serving, incorrect understanding of losses and bankruptcy, it is difficult to accept your conclusion with no analysis of Kenness, at $360 cost per ounce when the company indicates the it wil be below $100 . This is not to say that you are wrong about this but so far you haven't shown yourself to be a very thorough analyst. But I hope you have the courage of your convictions and stay short while gold gets to $330. I hope to be able to check back with you at that time! >>>> Yes I am still short even though I covered once by mistake. I haven't shown myself to be a very through analyst but I can accept that the grade is to low at Kemess to be economic. Also the B.C. government money is very telling. Government invariably gets it wrong! Michael Bidder