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Gold/Mining/Energy : Crystallex (KRY)
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To: Valuepro who wrote (10807)8/3/2003 9:56:52 AM
From: james flannigan  Read Replies (1) of 10836
 
Arequipas gold was only a guess at 7 million.No gold was in the proven catagorey.IMO Kry should be valued at $2 billion,make no mistake that we will never see anywhere near that price.But one could argue that with poven and drill suggested reserves of 21m 0z at $1 billion value for kry would equal $47 per oz.Even with capital costs of say $400 million to build the mine, it still equates to only $66 per oz with the mine in production.Clearly we all would be better off if KRY could bring the mine to production alone.But with the lowest valuation of one of the worlds biggest gold deposits on the planet,I think that the likes of ABX,NEM,or Freeport, would not be doing their shareholders justice to not add the reserves to their balance sheet at these prices.
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