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

To: Thomas P. Talbot who wrote (1493)	11/23/1998 8:56:00 PM
From: Al Cern	Read Replies (1) \| Respond to of 1706

Tom, I doubt that the bondholders are interested in anything but Kemess, so the scenario of debt for equity is probably not realistic. Who would sign up for the liabilities associated with Giant and the Ontario operation whose name escapes me. I have followed a lot of down and out companies, and the outcome is always the same. Someone comes in and takes over by buying control for peanuts, or buys the assets, leaving the original shareholders with nothing or very little. In this case I think the present shareholders will end up with nothing. Sincerely, Al Cern