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Gold/Mining/Energy : Yamana Resources INC. T- YRI -- Ignore unavailable to you. Want to Upgrade?

To: Greg W. Taylor who wrote (1223)	5/13/1998 10:04:00 AM
From: Phil Cressman	Read Replies (1) \| Respond to of 2346

Financing seems to be going well. Canadians can participate through First Marathon Securities (one of lead brokers). All of the details aren't yet set in stone (like the price) but the units sold consist of 1 common share + 1/2 warrent good for 18mths. The offering has been shown to institutional buyers in Europe and the U.S.A. but I don't know if individuals there can buy smaller amounts through their brokerage houses. From what I hear it is not going to be a give away so expect current stock price to be paid and amount raised may be as much as $15,000,000 + exercise of warrents later in year. Hate to see the dilution but the money means the two huge potential prospects (Silver with Gold credits) can properly be developed without giving away interest to a jv. Barrick ownes about 13% of the company at present, any guesses if they will be buying part of issue to keep ownership at this level?