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

To: Bill Jackson who wrote (899)	4/14/1998 1:16:00 PM
From: scott	Read Replies (1) \| Respond to of 1706

put it this way, they already control the destiny of ryo. allowing ryo to do the trilons deal will disadvantage the senior noteholders as this new money will rank ahead of the senior debt due to its secured nature. as a result, if the senior noteholders are to agree to the deal, they will have to be compensated - at the expense of the stock holders. in my view, ryo will have no choice but to give into their demands. the shareholders will either lose 10 to 20 per cent of the company or 100% in the case of bankruptcy. imho, this info is not being priced into the markets.