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 : Yamana Resources INC. T- YRI -- Ignore unavailable to you. Want to Upgrade?

To: PSkars who wrote (1362)	6/17/1998 11:04:00 AM
From: Phil Cressman	Read Replies (1) \| Respond to of 2346

Yamana share issue financing fails to sell. Yep my broker just called to tell me the deal is dead. With the current mining sector selling at record lows the deal couldn't be sold. Let's hope that some of those, like me, who were in for the new issue decide to buy into the market and thereby support the price. There is certainly weakness in the stock price even at the current low price so no one, including me, is rushing to buy. Perhaps a joint venture is going to have to be done to raise the funds to continue in Argentina. There are a few months before drilling plans have to be made so if the mining sector recovers perhaps a late summer deal can be struck.