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

To: Peter Neidhardt who wrote (1614)	2/15/1999 3:31:00 PM
From: Daniel Chisholm	Read Replies (3) \| Respond to of 1706

Sorry guys. Looks like it's over! No, it's not over yet. They filed for bankruptcy today (more specifically, Royal Oak said "...that it would ask an Ontario court to grant it legal protection from its creditors in a bid to restructure debt and keep its prized Kemess gold mine open.") This is an important milestone, one that both shorts and longs have seen as a possibility. Today it has simply been confirmed. There are still more events ahead of the company and the stock, even if it turns out to be "over" in the end. From here, the stock price might rise or it might fall. Or it might do both. This is a dilemma for both longs and shorts, as they both must decide whether to buy, sell or hold. As a short, I think that: * it is inevitable today's common stock will ultimately be worth $0.00. Stated differently. it is my opinion that the stock is overvalued today (at $US1/4-5/16 or $CDN 35-40cents). * The company may or may not survive the bankruptcy proceedings. Anybody have any comments on this? - Daniel