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Gold/Mining/Energy : Crystallex (KRY)
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To: richard badauskas who wrote (10102)10/2/1999 11:30:00 PM
From: charred  Read Replies (2) of 10836
 
Hello Richard,

From you're post, I think you don't fully understand KRY and should be carefull with your investment.

You said "Albino I is looking at going into production next year boosting annual production from around 80,000 ozs p.a. to 150,000 ozs. p.a. from rich underground ore.", this is incorrect. Albino will not produce 70,000 ounces a year from a underground operation. Reserves are only 309,000 ounces. To establish a new underground operation, much more investment is needed. The company has had this concession for 6 years and still haven't completed an underground feasibility study. What is IRR of the new operation, how many new ounces etc? The question is what is the delay? Forget Albino. In my opinion their Venezuelan operations are dead.

With the movement in the gold, well establish companies like KRY will benefit. However there are many companies in a better position to benefit from this. It takes little DD to find out where.
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