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Gold/Mining/Energy : Crystallex (KRY)
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To: Greg Ford who wrote (8469)5/1/1998 12:52:00 AM
From: E. Charters  Read Replies (1) of 10836
 
Ok I located the statement. I WAS looking at 1995 figures. The fair cash cost of Albino when it's in full production is 168 dollars an ounce, the 1995 cost. And that is phenomenal because it is a very small mine in development.

In 1996 the mill was down most of the year. If you fairly extract only salaries and expenses of production, the cost was 210 dollars an ounce to produce. And that includes salaries that were paid while there was no production. If you want to throw in all their contractual development costs while the mill was down and write them down this year as they have done then, yes, the costs to produce for 3 months was 730 dollars.

The facts remain and it should be Crystallex clear to even a professional pessimist like yourself is that Albino is an incredibly low cost producer especially regarding its very small present throughput.

Read between the lines. It's where the real information is.

And good luck with your investments.

echarter@vianet.on.ca

The Canadian Mining Newsletter
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