1 Million oz. and up. Message Board

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Gold/Mining/Energy : 1 Million oz. and up.

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To: Wlodek who wrote (32)	1/17/1998 2:21:00 PM
From: Robert Dydo	of 144

That is true, Wlodek. Company does not fit the criteria with their 70Mln shares outstanding on the market. For example High River Gold has excellent potential with their two postions in New Britannia and Burlatzholoto but they have only $300,000 in cash holdings at the moment so they don't make the list. I would also argue their (ELD) break even point at this moment and I think that their profit level need better price than current one for the improvement. For disscusion Their average cost per ounce is at $309/oz their production level for 1998 is 210K oz. 70% of the production is hedged at $346/oz While 30% is opened to spot prices(current 291.00) So as you see at 309 70K oz, is being sold with no profit and beyond that point comapny will certainly look better. The price of gold is very important for this company and shareholders who believe that gold is on solid way up may find this price as a buy. still doesn't make the parameters.

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