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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: Check who wrote (2697)	5/22/1999 3:48:00 AM
From: grayhairs	Read Replies (2) \| Respond to of 15703

Wow is right, Check !! Man does that ever sound terrible on a re-read. My sincere apologies to you. Obviously I was bitter about the rights issue and being excluded from participating in such a sweet deal (sweet because of the hindsight aspect of it all). But, I sure didn't mean\intend to "unload" on you personally. After all, I do know that the offering was not your doing !!!! Unfortunately, my compliment to you "Oh well, smile all the way to the bank, Check. You certainly do deserve it with all the DD and effort that you have put into this one." was sincere but my combination of statements makes the later sound so sarcastic that you probably did not interpret it that way. Check, I respect the effort you have put into this thread and the valuable information which you have contributed for the benefit of myself and others. I also enjoy your wit and humour. I'm truly very sorry to have offended you. Sincerely, grayhairs

To: Check who wrote (2697)	5/22/1999 8:37:00 AM
From: Bob Walsh	Read Replies (1) \| Respond to of 15703

It is possible that KOB needs the cash within a short time (perhaps to exercise an option that expires shortly). If that is the case (big if), then they chose the way that is probably the best way: results in lowest share dilution (no chunks of stock to a broker as a placement fee) and most equitable (even though I am a citizen of USA and can't take advantage of it). Probably the offering of rights had to be limited due to time consuming registration requirements (in those areas excluded). Regards, Bob