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

To: Al Cern who wrote (1669)	4/16/1999 2:58:00 PM
From: Daniel Chisholm	Read Replies (1) \| Respond to of 1706

Hi Al, As of Wed 14 Apr (i.e. two days ago) the bid & ask (for indication purposes, for institutional sizes ($500K+)) for the 12.75% RYO debt (I assume this is the $175M subordinated note issue) was still 18 bid 25 offer. I was surprised to see that this is the same quote as I was provided on 26 Mar 99. Knowing what we know/have guessed, it seems to me that this might be overpriced. My post #1657 left out some of the debt (hedge related), things are actually worse than that post suggests. See the most recent 10-K, it seems that that post (done from memory at the time) did overlook several tens of millions of other debt. Would anyone care to hazard a guess as to what they are likely to get for Kemess? Re: post #1663 and the news article it quoted, it would seem that yesterday was a deadline: On April 15, court-appointed monitor PricewaterhouseCoopers Inc. will present valuations of the company, including the troubled Kemess South gold mine in British Columbia. Wonder when we'll hear about the next step in this process? Speaking of milestones, is today the last day for Royal Oak on the TSE, or is it Monday the 18th? - Daniel