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Gold/Mining/Energy : Royal Oak-RYO

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To: JCgold3 who wrote (714)	3/15/1998 11:19:00 AM
From: MiamiMike	Read Replies (3) of 1706

Kemess Mines Inc. I think thats what Peggy's calling it. Is there any particular reason why Peggy placed Kemess into its own little company (Kemess Mines Inc. ( I think)). Is there a legal reason or a financial one. It seems to me she is trying to keep her main asset away from her other assets(if they can all be considered assets). My guess(imho) would be that she is losing money daily on her other assets (or making break-even at best) because it costs too much to shut them down. Didn't she buy old mines that were losing money, cut costs and then start making money. That was all at above$360/ounce. Now that is below that,how many are actually making money. If I was an investor with multi-millions, I would lend a company money for Kemess, but looking at all the other properties, I would definately have my doubts and probably send my money elsewhere. Looking at just Kemess numbers doesn't cut it, you have to look at all the mines and then start doing some number crunching. Mike.

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