-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, F7uDSkMNY8QZyGaw9RF5FRlgH2Aemcl4GJhgPS6O8GZ/UWkVYAuJJBFUxTt5Cnri J0JqBLi1YhQLDGVx8Wkw4w== 0000041304-97-000018.txt : 19970530 0000041304-97-000018.hdr.sgml : 19970530 ACCESSION NUMBER: 0000041304-97-000018 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19970529 ITEM INFORMATION: Other events FILED AS OF DATE: 19970529 SROS: AMEX FILER: COMPANY DATA: COMPANY CONFORMED NAME: ROYAL OAK MINES INC CENTRAL INDEX KEY: 0000041304 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] IRS NUMBER: 980160821 STATE OF INCORPORATION: WA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04350 FILM NUMBER: 97616308 BUSINESS ADDRESS: STREET 1: 5501 LAKEVIEW DR CITY: KIRKLAND STATE: WA ZIP: 98033 BUSINESS PHONE: 4258228992 MAIL ADDRESS: STREET 1: 5501 LAKEVIEW DR CITY: KIRKLAND STATE: WA ZIP: 98033 8-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------------------------------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 May 29, 1997 ROYAL OAK MINES INC. ---------------------------------------------------- (Exact name of registrant as specified in its charter) Commission File Number 1-4350 ONTARIO, CANADA 98-0160821 - ------------------------------- ------------------------------- (State or other jurisdiction of (I.R.S. Employer Identification incorporation or organization) No.) c/o Royal Oak Mines (USA) Inc. 5501 Lakeview Drive Kirkland, Washington U.S.A. 98033 - ---------------------------------------- ----------------- (Address of principal executive offices) (Postal/Zip Code) (425) 822-8992 - ---------------------------------------- Registrant's telephone number, including area code - -------------------------------------------------------------------------- Item 5. Other Events On May 29, 1997, the Registrant issued the following press release: [Royal Oak Mines Inc. Press Release Letterhead] FOR IMMEDIATE RELEASE FROM KIRKLAND May 29, 1997 Royal Oak Plans for Write Down of Colomac Assets in Second Quarter Royal Oak Mines Inc. (TSE and AMEX: RYO) announced today that in view of the current weak gold price and the diminishing ore reserves at its Colomac Mine in the Northwest Territories, the Company plans to make a pre-tax C$30 million provision to write down the Colomac assets in its second quarter financial statements ending June 30, 1997. At year-end 1996, mineable ore reserves at Colomac, including the Cass property, were 260,000 ounces of gold contained in 5,292,000 tons assaying 0.049 ounces of gold per ton. Production at the Colomac Mine in 1996 was 122,416 ounces of gold. The viability of the Colomac Mine will continue to be assessed for the remainder of this year as production continues. The Company is carrying out an exploration program at Colomac to investigate the potential for underground mining when ore reserves at the open pit are depleted. A 15-hole winter exploration program totalling approximately 20,000 feet has returned best intersections of 0.267 ounces of gold per ton over 132 feet, and 0.292 ounces per ton over 15.2 feet. For further information contact: or in Europe contact: Mr. J. Graham Eacott Mr. David Williamson Vice President, Investor Relations David Williamson Associates Limited Royal Oak Mines International Investor Relations 5501 Lakeview Drive 78 Old Broad Street, 2nd Floor Kirkland, WA 98033 London, England EC2M 1QP Telephone: (425) 822-8992 Telephone: 011-44-171-628-3989 Facsimile: (425) 822-3552 Facsimile: 011-44-171-920-0563 SIGNATURE Pursuant to the requirements of Section 12 of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. ROYAL OAK MINES INC. Date: May 29, 1997 By: /s/ James H. Wood James H. Wood Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----