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

To: Grant Baker who wrote (848)	3/26/1998 7:30:00 PM
From: roger fontaine	Read Replies (1) \| Respond to of 1706

I've been bullish on RYO till now.I just sold my position on RYO due to several factors.1) The amount of debt they now have.2)The interest rate is way to much,the lenders realizing the problems RYO was having took advantage of the situation.3)At current gold prices only Kemess will be profitable for RYO and will not be able to handle the debt load RYO has now.4)After reading an article in the Globe and Mail and verifying the facts for myself,RYO is notorious for over projecting gold production and under estimating actual cost.RYO may be good for short term but do not hang on for long term.The best to you all and good luck.