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

To: scott who wrote (1129)	8/3/1998 3:02:00 AM
From: Mike G	Respond to of 1706

Scott - sorry I took so long to get back to you on the amount of expenses in Canadian Dollars. I phoned RYO and talked to Graham Eacott, and as well I looked at the financial statement sent out for 1997, and it appears that about 76% of all expenses are payable in Canadian Dollars. All wages, fuel, expenses with the exception of the interest on the debt, and the head office expenses in Kirkland Washington, and that money spent on off shore projects are payable in Canadian Dollars. The Canadian dollar hit a new record low. 66.1 cents U.S. buys 1 Canadian Dollar. This is a drop of about 6 cents in the last few months. This makes RYO even more viable. If the Canadian dollar drops to .55, in other words if .55 U.S. buys 1 Canadian dollar, this will have a very significant impact on the bottom line of RYO. At that level, it will pay for 1/2 of the interest owing to Trilon, just in exchange rate alone. He also said that all expectations from Kemess are above expectations. They have exceeded the expected capacity of through put. The latest statements telling people to sell are published by people who are shorting the company. There are now 7 million shares that are sitting in a short position, but don't forget that there are about 133 million that are long. Someone out there is still buying these shares. If the shorters can scare enough novices into selling then the price continues to slide, you have accomplished your purpose. For every negative post that is generated, it takes 10 positive posts to overcome the negative, so I suppose Michael and others will post as quickly as they can the negative. The last post Michael posted sounded almost like he was panicking. As the old saying goes, it only takes 1 aw#$hit to erase 10 attaboys. I am sure you will post the negatives as fast as you can. Mike G