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

To: JERRY GACH who wrote (788)	3/22/1998 4:05:00 PM
From: Bill Jackson	Respond to of 1706

Jerry, Only those at the table know the deadline, but time is critical. I think someone said there was a 20 day clock that has now started? AT what point to tradespeople file liens and start actions? If this stretches on too long the bondholders will act and an auction will ensue. At that point RYO will have zero. Now at least they have hope and if they are offered a way out that is not ruinous they may survive. Any way out now must burn a load of SH equity as the vultures will gamble big for a big payoff downstream. Bill