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Gold/Mining/Energy : Crystallex (KRY)
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To: bob jaremsek who wrote (7196)3/20/1998 6:03:00 AM
From: Valentine  Read Replies (1) of 10836
 
The average carrying value in NAV calculations of Las Cristinas of all the analysts that cover PDG is between $100 and $200 million USD, or more than the KRY market cap. in recent weeks. In speaking with many of these analysts they admit that using a long-term gold price of $325 gets the NAV to ZERO. That is the real irony here. Even if they win, which would be years away, the market cap. of KRY could not rationally be supported and the stock would still be overvalued. Sad but very true.

All the crap about a smaller mine or mining more slowly would only serve to reduce the NAV of the property even further. Sad but also true.
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