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Gold/Mining/Energy : Royal Oak-RYO

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To: Karen E Hoof who wrote (666)	2/2/1998 8:06:00 AM
From: David R. Schaller	Read Replies (1) of 1706

Karen, I'm not sure what POG this project was budgeted at but I do remember copper @ $1.00. My guess is that we need hefty margins on copper to help fund the debt levels our company is faced with. Worldwide copper reserves are at high levels currently & with SEA economies in a tailspin the consumption of copper from that part of the world is expected to be down considerably. Not a pretty outlook but I'm still hopeful that Peggy can make a go of it. Regards, Dave

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