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Gold/Mining/Energy : Armada Gold 10 Million oz of Gold & 1 billion lb of Cu ! -- Ignore unavailable to you. Want to Upgrade?

To: stockman who wrote (482)	8/18/1998 8:36:00 AM
From: Ross Orr	Read Replies (2) \| Respond to of 552

The next thing to be done by the company to compliment the low production cost is to line up a bank that will sign on for the debt financing of the project (70%).The purpose of the study released yesterday is just that, a bankable feasibility study. AAU still has the problem of raising the equity stake in the project (30%). Obviously an equity raising at this price and in this market is not comprehendable. They must find a joint venture partner to pick up this piece or be acquired by someone who can advance the project.The company does have discussions going on at this time. Ross Orr