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Gold/Mining/Energy : St. Genevieve Resources (SGV.T & SGV.M)

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To: Perry who wrote (107)2/23/1998 9:37:00 AM
From: philip trigiani  Read Replies (2) of 140
 
I think they'll survive, but a great dilution to us all. This restructuring is going to give Gauthier and Co. more control, no debt, and a new mandate to produce something. But, the tarnished reputation is the largest negative going forward. Accessing new money, if the rights offering is a failure, could be a huge problem. Working capital is going to be dependant upon this rights offering, unless they get a guarantee, like they have mentioned. I'm out if the share price gets anywhere near breakeven. Gauthier and co. can go to hell, they're nothing but scam and bullshit artists. Gauthier was totally behind this fuck up, and now he's coming out of it with control. It all stinks.
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