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

To: Michael Bidder who wrote (1175)	8/12/1998 8:55:00 PM
From: tom shelby	Read Replies (3) \| Respond to of 1706

Be careful of the words you use. At least one company (see Antares Mining ANZ.T) has threatened legal action against a poster for libel. I am not putting you in that category just bringing it to your attention. Numerous studies have been conducted all stating that there is gold and that it can be mined at a profit. Is there risk? yes Are there unknowns? yes Bre-X and Royal Oak are not comparable. Bre-X was a fraud with no gold. Royal Oak has gold with numerous independent tests and reports which confirm it. That is a far cry from deception. In previous post you stated words to the effect that Royal Oak has admitted that Kemess is losing money. I repeat my challenge to you. WHERE HAS ROYAL OAK ADMITTED THAT? Why are you waiting for the second quarter results? The first quarter's results showed that Royal Oak was making money. Instead of acknowledging this fact. You stated this was "vodoo accounting" If the second quarter is profitable will you again state that it is vodoo accounting? Your acceptance of information seems to hinge on whether or not it fits into existing negative framework. This may be dangerous to your personal financial well being (imo). Royal Oak has significant risks in mining a low grade deposit in a time period of declining metal prices of gold and copper. There is a significant risk of failure with the corresponding complete loss by shareholders. There is a possibility that it may work and shareholders may make money. Who knows? I am comfortably sitting on the sidelines (neither short nor long) merely observing.

To: Michael Bidder who wrote (1175)	8/12/1998 11:12:00 PM
From: Elizabeth Andrews	Read Replies (1) \| Respond to of 1706

Michael, don't forget humility. It is a wonderful thing. You probably don't know this but Rio Algom, a smart company with smart people, had an RFR on this property. They passed because it wasn't as attractive as some of their other opportunities. But, there is no doubt that the copper and the gold is present in the deposit as advertised. It may not be economic at current prices but it is not a fraud. So please keep to the facts. Your analysis is missing the point and it is becoming misleading. There is no analogy to Bre-X here and you should desist before you start fooling yourself.

To: Michael Bidder who wrote (1175)	8/13/1998 1:42:00 AM
From: Mike G	Respond to of 1706

Michael, it was nice for a few days, you left RYO alone. Did you come out again because it is moving up a bit? "Bears and Bulls make money on the stock market, but pigs never prosper." You should cover your short position now before you lose your profits. Canadian dollar still in the .65 range, which makes RYO more profitable. Processing 61,000 tons of ore per day. Things seem to be coming together. Money for exploration, which a lot of companies don't have. Mike G