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Gold/Mining/Energy : Crystallex (KRY)
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To: ian dodge who wrote (5125)2/11/1998 4:23:00 PM
From: viper  Read Replies (1) of 10836
 
It is hard to rationalize the market cap of KRY. Even if they win
Las Cristinas, they would have serious dilution to endure to fund the
project. With current market cap and capital expenditure requirement
they would not appear attractive as a buy out for a major.
So, if you look at potential dilution if they were to take the project
on themselves, they are now pricing a 100% win. Their other projects
do not nearly substantiate this market cap, so I do not see where the
upside exists. Your honesty will probably offend, but we agree in
the long run with your decision.
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