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Gold/Mining/Energy : Crystallex (KRY)

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To: charred who wrote (10106)	10/3/1999 10:12:00 AM
From: John Dally	Read Replies (1) of 10836

Hi charred, I get the impression that you are still arguing that KRY isn't worth $5 per share. I think that argument was settled 2 years ago, and you were right! The question today, is whether KRY is worth more than $11/16 per share or $29 million. I don't know anything about gold mining, but I can read a financial statement. When I started looking at gold mining cos 2 months ago, I noticed that most of the 3rd tier and some of the 2nd tier were struggling to survive. KRY's financials, on the other hand, were improving dramatically: crystallex.com Working capital went from C$1.7 million in December 1998 to C$8.4 million in June 1999 and shareholder's equity went from C$67.8 million in December 1998 to C$71.1 in June 1999, a 5% increase at a time when many comparable cos seemed headed for bankruptcy. More important, the company produced significant earnings and cash flow for Q1 & Q2 of 1999. (Richard has already covered this.) At what P/E ratio would you value KRY? What are the names of some of those other companies that you feel are superior investments? Thanks in advance for your comments, John.

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