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

To: Tupulak who wrote (1403)	7/4/1998 11:20:00 PM
From: Bearcatbob	Respond to of 2346

Curt, My point exactly. With what YRI has it is only a matter of how sweet they have to make it to get the money. I hope the things trade. I would buy some. Bob

To: Tupulak who wrote (1403)	7/5/1998 10:01:00 PM
From: Greg W. Taylor	Read Replies (1) \| Respond to of 2346

Curtis: There are a number of reasons that this should be an easy deal to do. It offers investors an equity play which is very highly levered, boosted by warrants available at conversion. The conversion price will be at a premium to market, but not a huge one. It also pays 8% interest on a senior secured note, along with bonuses for voluntary conversion. That's why there seems to be good interest, especially in Europe, where they are more familiar with convertibles. As to timing, we will not let this one last for long. As I said in the release, closing is expected this month. The other side of the coin is that virtually all exploration stocks carry the stink of scams, made worse by metal prices and general international market jitters. In this market, having serious intercepts, indicating good sized deposits, of high grade, isn't enough today. As I have said here before, if 18 months ago we had what we have today, we would have had a vastly higher high than we did have. Eighteen months ago, the upside was obvious and considered a reasonably promising. People could see where things were going and they had faith. Now, faith is thin and hard to find. The cynics are running the market today, just as, 18 months ago, the raging optimists did. Now, if we had $20 million in the bank, some people would be happier. If we had JV's that promised to take us to feasibility, some people would be happier. If we had mineable reserves. some people would be happier. And yet, if we had all of that, we would still be down, relative to where we have been. Just look at the majors. So here we are, trying to push ahead because we believe in what we have, but we can't do it without market support. I think we are getting it and I hope to see the money in the bank and the drilling contracts signed and a new push before year's end. The trouble is, there is almost nothing that either I or the rest of our management can do to ensure it all happens. I hope this helps. Greg