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

To: Elizabeth Andrews who wrote (1498)	11/24/1998 9:06:00 PM
From: Lilian Debray	Read Replies (2) \| Respond to of 1706

It trades on Amex under the same symbol RYO sec.yahoo.com "The Company incurred interest on long-term debt of $14.7 million and $33.3 million, respectively, in the three months and nine months ended September 30, 1998 compared with $6.9 million and $19.7 million in the same periods of 1997. Increases in interest expense are attributed to the January 1998 issuance of Senior Secured Debentures in the principal amounts of $19.5 million and US$30.7 million, and the June and August issuance of US$115 million and US$4.75 million, respectively, of Senior Secured Debentures to Trilon Financial Corporation ("Trilon") and Northgate Exploration Limited ("Northgate"). (see Note 7 to the Consolidated Financial Statements). Proceeds from the June 1998 financing were used in part to retire the Senior Secured Debentures issued in January of 1998. Significant amounts of interest paid on long-term debt were capitalized against projects under construction, mainly the Kemess project. Interest capitalized amounted to $11.5 million and $29.6 million in the three months and nine months ended September 30, 1998, respectively, compared to $5.6 million and $15.5 million in the same periods a year earlier."