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Gold/Mining/Energy : Kensington Resources

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To: Robert Sherkin who wrote (3956)	3/24/1997 10:18:00 AM
From: BUDDY MOYNIHAN	of 5597

hello robert and all: larry brubaker - post 3946 - i'm glad you don't want to argue with me here. i'd like to bury the hatchet too as it is very counter productive to say the least. but for the record, krt will need some time to get the underground mine going (701) and the 702 property needs further evaluation before it is put into production. the 701 mine is already in production and if my comments were misinterpretted to mean ALL 15 million carats are immediately under production so be it... i'd like to add a wrinkle for your cashflow discount valuation calc. the tax rules in china allow the investment of a foreign mining company as a tax holiday. in short, the $20 or so million krt needs to invest in china will be recovered first before any profits are shared with the chinese gov't (judy if this has changed please update the gang out here...). so a dollar invested now will be recovered much quicker than your cashflow calc currently takes into consideration. - steve rose - post 3948 - i'm trying..... 35 stories up sounds great but at these current prices i'm not sure this KING could afford it... :-) the setting though sounds fit for a bunch of KINGS.... - robert sherkin - post 3957 - krt has been a speculation stock for some time. the china deal adds more speculation to it (703) while providing cashflow (yes, eventually, not immediately) so it is more of a hybrid now but still heavily weighted to the speculation side. the future looks brighter, but i still can't wait to say the present and future look bright (with respect to krt's share price). still long, what a shock i know, buddy

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