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Gold/Mining/Energy : Royal Oak-RYO
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To: Michael Bidder who wrote (727)3/15/1998 6:46:00 PM
From: JCgold3  Read Replies (1) of 1706
 
Michael, when the copper concentrate contract was announced it was referred
to as confidetial. I inquired to Graham Eacott as to the price to be paid
to RYO and was told that he could not disclose that information. In
all press releases since, RYO has stuck pretty close to the then current
market price for copper when projecting revenues, adjusted cost per
ounce of gold mined (adjusted by copper revenues in the same tonnage
mined), and cash flow. Fortunately for all RYO shareholders, the price
of copper has rebounded quite nicely over the last couple of weeks after
a precipitous drop earlier this year. I view Kemess more as a copper
play than a gold mine even though RYO management has positioned it differently.
CU is 82.8 cents/lb today.
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