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Gold/Mining/Energy : Royal Oak-RYO -- Ignore unavailable to you. Want to Upgrade?

To: wrm1 who wrote (1100)	7/28/1998 12:21:00 PM
From: Michael Bidder	Read Replies (1) \| Respond to of 1706

wrm1 <<What does this say for the lenders who just entered into the loan agreements. They blundered, big time.>> It is my opinion that the lenders are gambling on a price of gold and copper increase. It may come for them but it hasn't come in time for Royal Oak. The stock is trading at an all time low and reaching new lows weakly/monthly. The reason for this is the $3+ million per month in interest payments and the new losses at the Kemess project which is in the red. IMO the Trillon loan was set up to Bankrupt the company and relieve the equity holders of their equity. This is a good thing for the Kemess project and Trillon. Trillon gets Kemess free and clear for $120 M. All the baggage associated with Royal Oak's operation of the project is dropped. Namely its other losing operations. MB