-----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, TEvqyFOXPTOxD8XdnibTK+JOsRw7aFIS718EFnQKK5dm7OPhET6RF2GB8c8Ar5DZ ic/yHviGZVKixTPsQZhJpg== 0000041304-98-000013.txt : 19980319 0000041304-98-000013.hdr.sgml : 19980319 ACCESSION NUMBER: 0000041304-98-000013 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980317 ITEM INFORMATION: FILED AS OF DATE: 19980318 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: SEC FILE NUMBER: 001-04350 FILM NUMBER: 98567837 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 March 17, 1998 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 March 17, 1998, the Registrant issued the following press release: [Royal Oak Mines Inc. Press Release Letterhead] FOR IMMEDIATE RELEASE FROM KIRKLAND March 17, 1998 Royal Oak in Default of Senior Secured Debentures Royal Oak Mines Inc. (TSE and AMEX: RYO) announced today that it has notified the holders of its Senior Secured Debentures that the Company has exceeded the amount of trade payables over 90 days allowed under the covenants in the Senior Secured Debentures resulting in a technical default of this covenant. The provisions of the indentures allow a 20-day "cure period" to enable the Company to remedy this default. Last night the Company's mechanical contractor terminated work at the Kemess project as a result of non-payment with approximately 3-4 weeks of work left for mechanical completion. The project is currently 92% complete. In conjunction with its financial advisors, the Company is evaluating a number of alternatives to fund the completion of construction of the Kemess Mine and to determine the best course of action to remedy the default. The Company is currently holding discussions with a number of interested parties. For further information, contact: or in Europe contact: Mr. J. Graham Eacott Mr. David Williamson Vice-President, Investor Relations David Williamson Associates Royal Oak Mines International Investor Relations 5501 Lakeview Drive 15 St. Helen's Place, 3rd Floor Kirkland, WA 98033-7314 London, England EC3A 6DE Telephone (425) 822-8992 Telephone 011-44-171-628-3989 Facsimile (425) 822-3552 Facsimile 011-44-171-920-0563 Internet site: http://www.royal-oak-mines.com 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: March 17, 1998 By:/s/ James H. Wood ----------------------- James H. Wood Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----