|
Well, here is a true tale for you..Many years ago, perhaps even before
you were born, the camp barber of a railroad crew working near
Porcupine,Northern Ontario,threw a pick at a jackrabbit, knocked off
some moss from a rock, and lo and behold, gold! Now the railroaders
were in the mining business. Benny Hollinger, for that was the barbers
name, sold out his stake in lieu of shares to a guy called Timmins a
supply store owner who represented a group of the railroaders and
others. Benny settled for $60,000 dollars, a HUGE sum in those days.
A town was eventually named after Timmins and Hollinger Consolidated
Gold Mines went on to produce $600 million dollars of gold at $35 per
oz of gold and was one of the longest running mines in Canadian
history. If Benny hadn't sold out, he would have made millions, but
he did. So it really doesn't suprise me when Torres/Mael having been
stumped in 1986 by the Ministry of Mines, sold out to the KRY
consortium for this sum of 6 million down and 30 million in total. As
far as the price of the KRY goes where you and I bought it, it was
undervalued in terms of projected earnings for 1997 Albino earnings
alone.
So what is your problem? Should the SC rule ONE MORE TIME in favour
of KRY, this is just speculative icing on the cake. If you think Kry
will fail, sell all/some of your KRY shares and buy some Placer calls.
But maybe you have done this already. Anyway, this is not an all or
nothing investment with me. And for all you know, I own Placer too. SO
why your hostility? Anyway, best of luck with your investments. |
