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Non-Tech : Sungold Gaming International (SGGNF) -- Ignore unavailable to you. Want to Upgrade?

To: kidl who wrote (3570)	4/20/1999 12:32:00 PM
From: vee	Read Replies (1) \| Respond to of 5164

Kidl, Can you elaborate on the 'music to my ears' comment. Thanx Vee

To: kidl who wrote (3570)	4/20/1999 12:33:00 PM
From: John Lawrence	Respond to of 5164

Clarification re. $4 floor. I just wanted to clarify that I feel the $4 floor will be effective based on Richmond Downs alone. As I said, I think that some major buyers will affix that value essentially as soon as they are assured of the lease with Interport. Personally, I think those guys are already confident of the signing. Apparently, part of the delay has been because a new authority, Fraserport, is being created, effective May 1, who will have the authority to issue the leases. That takes it out the hands of an obscure gov't. department in Ottawa. My feeling is that any other developments which may be occurring on any other fronts will add value additional to the $4. We are still awaiting the federal judge's decision regarding whether the case should be heard in federal court or state court. If it goes to state, and our lawyer is confident that it will, then the GLB will need to deal with contract law. Sungold's case, based on contract law is very strong. The Indians have apparently been arguing that the case should be heard in Federal Court because they consider themselves to be a nation, and exempt from contract law. As we know, the GLB has not yet been notified of an effective date, so it is not yet a nation. I think some investors may have been overlooking the fact that Sungold has an agreement with Gladieux, one of the directors, to purchase a large piece of land (about 270 acres, on the water between Detroit and Toledo), a small fraction of which has been slated to be given to the GLB. One might speculate about what a development company, with the likes of Gladieux and Harris on the board, might consider doing with such a parcel of land. I believe there's much more to this story. ............... PS. How nice to see liquidity. I have recently spoken with some shareholders who have been testing the waters and have been able to sell a few shares at a good price (compared to 2 weeks ago), and buy, alas, at a slightly higher price. Some of us have been waiting so long for this that we need to actually touch it, taste it, and see it to know this buying is for real. The last quote I had was 1 3/8 - 1 7/8.