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Gold/Mining/Energy : CMYN -- Ignore unavailable to you. Want to Upgrade?

To: Jack who wrote (582)	4/6/1998 4:50:00 PM
From: Peter Fein	Respond to of 811

I tend to think most of the 20 million (which was in the last 1/2 of trading) was a preferred holder selling his converted commons. The spread is now 0 - 1/64. This REALLY sucks. Would a reverse split at this point even mean anything, let alone do some good? I've got a call into IR - the management has screwed this up royally. At current prices, they should be able to buy most of the outstanding shares with their 10 million odd dollars in cash. In any event, with this many shares outstanding, we should be able to force a proxy vote to either replace management or resolve this issue. Can anybody say "failed in fiduciary duties?" --Peter