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

To: Eric Freeman who wrote (640)	1/16/1998 9:26:00 PM
From: JCgold3	Read Replies (1) \| Respond to of 1706

It was announced earlier this week that Asia Minerals has notified its Chinese partner that it is terminating its Chinese mine joint venture. AMP is claiming that its Chinese partner breached its agreement with AMP in several areas. They will now go through a period of negotiations where they attempt to iron out their differences. If they can't, litigation may be considered by AMP. The news isn't good, however AMP has other properties. I also don't believe that RYO shareholders were building any AMP expectations into the RYO price(IMHO). It will be interesting to see what RYO does about this development as a 44% owner. One positive note is that RYO's share won't be diluted by the $36 million AMP needed to finance the JV. I'm not familiar enough with their other properties to know their potential value. For more info check out Asia Minerals thread on Silicon Investor. It has the press release.