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Gold/Mining/Energy : Royal Oak-RYO
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To: Al Cern who wrote (866)3/29/1998 1:08:00 PM
From: Thomas P. Talbot  Read Replies (2) of 1706
 
Using your numbers right now the co covers the debt 36m to 34m just on Kemess. With an increase of 100 there would be an extra 34 million. Further, at 400 their reserves would double as the other mines became economical thus the real increase in revenue and asset values would create a boom. It was my understanding that for every 10 dollar move in gold there was 9 bucks in cash flow either way. The bottom line is that the assets of the company support a refi. However, a move up in gold would be most helpful. I agree the stk stays around here until a clear Kemess picture or gold rises. Peggy did not want to give up equity or assets that will only be done as a last resort.

Regards
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