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Gold/Mining/Energy : Yamana Resources INC. T- YRI -- Ignore unavailable to you. Want to Upgrade?

To: G who wrote (817)	1/11/1998 12:11:00 PM
From: Greg W. Taylor	Read Replies (1) \| Respond to of 2346

G: You're right that we had been tracking IPJ for some time before the late fall and they've rebounded much better in the last two months. I suggest there are a few things going on here, the most significant being concern or a mixed reaction to our Convertible Debenture financing announcement on November 5. As I've said before, this was not something we wanted to do -- and this hesitation has been reenforced by a market which got even uglier subsequently -- but it makes business sense in the longer run to raise money when and where you can in difficult markets. Now we're just going for a lot less than we were. I'd also point out that IPJ got a bit of a boost from their curious announcement that the COWs would be signed in December, an error which has never been retracted. In any case, while it was nice shadowing them for a while, they do have cash flow and they have a better cash position than do we. My thoughts, for whatever they're worth. Greg