| | Business Summary | | Royal
Oak
Mines
Inc.
is
a
North
American
gold
mining
company
that
has
produced
more
than
50
million
ounces
of
gold
during
a
60-year
period.
In
1998,
the
Company
owned
and
operated
four
producing
mines
and
kept
two
closed
mines
on
care
and
maintenance.
Royal
Oak
has
several
projects
where
development
was
postponed
in
1997
due
to
low
gold
prices
and
the
need
to
conserve
cash
to
complete
construction
of
the
Kemess
South
Mine.
The
Company
has
extensive
land
positions
in
Canada
covering
approximately
534,500
acres,
as
well
as
approximately
5,700
acres
in
the
United
States
and
approximately
178,800
acres
in
Fiji,
which
provide
the
opportunity
to
expand
ore
reserves
through
exploration
and
development.
As
of
December
31,
1998,
mineable
ore
reserves
contained
approximately
6.5
million
ounces
of
gold
and
944
million
pounds
of
copper. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | ROAKF
is
a
North
American
gold
mining
company
which
owns
and
operates
four
producing
gold
mines
in
Canada
and
the
United
States.
For
the
fiscal
year
ended
12/31/98,
revenues
fell
44%
to
C$107.7
million.
Net
loss
according
to
U.S.
GAAP
totalled
C$509.7
million,
up
from
C$153.1
million.
Revenues
suffered
from
decreased
production
and
gold
prices.
Higher
loss
reflects
an
increase
in
long-term
debt
interest
and
the
inclusion
of
the
write-off
of
financing
costs. | | More
from
Market Guide: Significant
Developments |
| | Officers | | | FY1997
Compensation | | Pay | Exer | |
| Margaret Witte, 44
Pres,
CEO | $734K | -- | James Wood, 51
CFO | 283K | -- | Edmund Szol, 57
Exec.
VP and COO | -- | -- | John Smrke, 47
Sr.
VP | 325K | $139K | Ross Burns, 54
VP,
Global Exploration | 208K | -- | | Dollar
amounts are as of 31-Dec-1997 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
