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Gold/Mining/Energy : ECHARTERS -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (2854)	8/10/1998 3:47:00 PM
From: richard badauskas	Respond to of 3744

I know it is a shame about the gold price, there will be very low interest until gold prices rise. The company was very fortunate to receive a A$20M settlement of their claim against the receiver. The original A$26M loan was written down to A$6M and this amount was paid out by a new issue of stock- still to be ratified by shareholders at a meeting to be called shortly. Re-listing should take place in about 1 1/2 months. Fortunately they will be one of the VERY FEW miners who are reporting very positive earnings for the year ending June '98 (even if this a one time extraordinary gain).