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Gold/Mining/Energy : Crystallex (KRY)
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To: positron50 who wrote (9561)7/31/1998 3:42:00 PM
From: charred  Read Replies (3) of 10836
 
Hey Guys, I would think a better discussion than talking about the credibility of Collins is production, costs and management. A small discussion was started on how KRY could increase their production. We can dismiss 150,000 ounce objective by 1999 out. Can't be done. My reasoning is that KRY does not have the financial strength for that. Even if they increase the production at Albino, they would have to acquire a big producer. The question is who? Why would any company producing over 100,000 ounces would accept an offer from KRY. What does KRY have to offer? Not too much.

The other properties that KRY have are just prospects. Santa Elena has a few workings and has never been drilled. Therefore it's just a prospect, a dime a dozen. Big deal. They have to start acquiring additional properties with some proven reserves. They got cash.

The company also has to re-structure their company starting at the top. To move ahead they need to hire experienced mining engineers and geologists to hold the upper positions in management including CEO. It's easy to say that MO will hire the personal to do so but why not replace MO or Fung with some who can make those decisions. The fact is the current management lead this company into an very expensive legal battle and lost meanwhile management walked out with big profits. They have to pay for this somehow. You shareholders are too nice to management.

Too me, KRY is not a good investment until they say exactly how they will increase production and re-structure upper management. To me it's very logical. Don't you agree?
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