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Gold/Mining/Energy : Solv Ex (SOLVD) -- Ignore unavailable to you. Want to Upgrade?

To: m.m. who wrote (5592)	4/17/1998 1:50:00 PM
From: JJB	Read Replies (1) \| Respond to of 6735

I have called the court a number of times regarding the Kalimur redemption (sounds like a movie title). According to the judge's secretary, who is getting a little tired of answering the same question, no additional hearing date has been set for this motion. I have not found a publically available notice (or wisper) indicating that the shares have been issued. I am to assume (ass of u & me) that this non-action is a short-term affirmation of Solv-ex position. This would indicate that in the Solv-ex Plan Motion, scheduled for 8:30 AM April 27, the Kalimur redemption will be part of a more inclusive ruling around all debenture holders. Calendar indicates April 28 is open in case hearing extends for more than a day. An interesting speculative situation would be based on someone coming in and advancing funds for the recall of the debentures (in exchange for stock) at the 20% a premium to the issuance price (as can be done). Koch has optioned up to 5% purchase of total shares after the company starts trading on a major exchange. As the plan advances all current and future investors are going to know how many shares are really out there, as they are to be called. jjb