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Gold/Mining/Energy : YBM Magnex Intl Sees Revenue Growth 30-35%/Yr In MagnetOp -- Ignore unavailable to you. Want to Upgrade?

To: Adrian du Plessis who wrote (145)	6/1/1998 9:54:00 AM
From: Mr Metals	Read Replies (2) \| Respond to of 314

YBM...$1.00 a share?....OUCH OUCH. YBM Magnex International Inc - Globe says fund companies write down value of their YBM stock YBM Magnex International Inc YBMShares issued 442229011998-05-13 close $14.35Monday Jun 1 1998The Globe and Mail reports in its Saturday, May 30, 1998, edition that Canadian mutual fund companies left holding 40 per cent of troubled YBM Magnex International have written down their investments to as low as $1 a share. The Globe's Karen Howlett and Paul Waldie write that it remains unknown when YBM's shares will resume trading. On May 21, mutual fund companies collectively agreed to write down their YBM shares to a range of $1 to $3. YBM shares traded at $14.35 when suspended on May 13. Sceptre Investment Counsel opted for the low end of the range and wrote down their shares to $1 each. Sceptre stood to lose $10.8-million on its investment in YBM, based on the last trading price. Another loser was O'Donnell Investment Management. Two of its funds, the $242-million O'Donnell Growth and the $519-million O'Donnell Canadian Emerging Growth, together held more than one million YBM shares at the end of April and stand to lose between $11.7-million and $13.7-million. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com MM