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Gold/Mining/Energy : Yamana Resources INC. T- YRI -- Ignore unavailable to you. Want to Upgrade?

To: kingfisher who wrote (1684)	11/18/1998 8:57:00 PM
From: john hackert	Read Replies (2) \| Respond to of 2346

If you figure the value of the company at 1.30 and dilute it by about 30% then the value is $1.00. which is the value of the stock now. What annoys me is the warrants which will add to the overhang on the stock. The other issue is the drill results are either not good or management left money on the table. If the drill results are good then my concern is that management acted hastily. why not wait until they are all out. Either way I think we have lost.

To: kingfisher who wrote (1684)	11/18/1998 9:16:00 PM
From: Mr. Oil	Read Replies (2) \| Respond to of 2346

Richard thanks for your help in this calculation. I think I have it straight now. One point I don't get though. >> Cannacord and First Marathon will snap up the entire issue and it will indeed be a VERY MERRY CHRISTMAS for Yamana shareholders. << How will this be of value to Yamana shareholders? If they snap up the issue they aren't buying yours and mine. They are buying the companies. Won't this literally stall the price hike and limit the upside. Too much supply for the demand means lower prices! Ray