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Gold/Mining/Energy : Crystallex (KRY)
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To: E. Charters who wrote (7315)3/23/1998 10:49:00 AM
From: Gutman  Read Replies (2) of 10836
 
Eric, you misunderstand. I said that "the present value of those ounces, in terms of profit, is only about 2 cents on the dollar." What I was referring to was a dollar of INCOME forty years in the future discounted at 10%, which is worth 2 cents today (actually 2.2 cents). This is a mathematical fact. I was not talking about the residual value of a fully developed gold mine with a mill and buildings, etc.

Best regards, Gutman
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