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

To: Bill Jackson who wrote (1374)	9/23/1998 9:56:00 AM
From: Michael Bidder	Read Replies (1) \| Respond to of 1706

You are so wrong. Bill give it up. How can you argue with the monthly losses. A bucket can only leak water for so long before it runs out. Royal Oak has been leaking for a long time. Michael Bidder

To: Bill Jackson who wrote (1374)	9/27/1998 9:57:00 AM
From: Al Cern	Read Replies (2) \| Respond to of 1706

Bill, I had a chance to get an update on RYO from a friend who is relatively up to date on the goings on. As far as Kemess goes, he said there is no positive cash flow from the operation. Recoveries are well below the estimates that we have been using, and that a negligible amount of concentrate has been shipped. The debentures are trading at $0.50 to the dollar. I cannot personally confirm the statements (other than the bond price), but I wouldn't bet against his comments. The lack of info, from the co. is a good indicator that all is not well. Sincerely, Al Cern