Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Armada Gold 10 Million oz of Gold & 1 billion lb of Cu ! -- Ignore unavailable to you. Want to Upgrade?

To: Brad Yonkman who wrote (431)	4/17/1998 9:20:00 AM
From: Ross Orr	Read Replies (1) \| Respond to of 552

The 3 million shares were bot at a very advantagious price. This is due to the fact that a 15% stake in a private Russian company which are held by 3 individuals is not considered to be a very liquid asset. The only way to get liquidity was to exchange it for AAu shares and for that privelage the company drove a hard bargain. What it does is allow the company the right to sell a % of the company to 1) a Russian bank or 2) a western mining company, to raise the necessary equity for construction of a smaller operation. As you can well imagine one must be creative in times like these. Fully diluted, after this current financing, AAU would have 125 million shares o/s. That is still $1.20 per share for the gold and does not include the copper. Ross