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Gold/Mining/Energy : JAB International (JABI)

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To: Brian Pastor who wrote (2715)	1/25/1998 12:54:00 AM
From: Lord Smooth	Read Replies (1) of 4571

You are not including fixed costs of at least $4 million and probably more like $6 million. The $150 cash plus $50 capital cost does not include SG&A and other fixed costs. This mine is not making money any time soon. That does not mean it is a bad investment. It is probably fairly valued where it is now. If management is competent, they will hopefully ramp up production to cover these costs...two or three years from now...

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