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Gold/Mining/Energy : Royal Oak-RYO

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To: tom shelby who wrote (1164)	8/6/1998 12:13:00 PM
From: Michael Bidder	Read Replies (1) of 1706

In light of the statement, "sustained losses are always terminal" let us review Mr. Shelby's response: <<<it does NOT apply to Royal Oak. For the three month period ending March 31, 1998 Royal Oak reported operating income of $3,183,000 and net income of $2,260,000.>>> Does not apply? Operating income? quote.yahoo.com This is the common sense approach. Its the bigger picture not some freak quarter based on aggressive accounting. Bear in mind when Royal Oak achieved this awesome performance gold was well above $300 USD. Now things might be different with gold below $300. Michael Bidder

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