Royal Oak-RYO Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Royal Oak-RYO

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: tom shelby who wrote (1176)	8/12/1998 9:53:00 PM
From: Michael Bidder	Read Replies (1) of 1706

Tom, Thanks for the Reply: "In previous post you stated words to the effect that Royal Oak has admitted that Kemess is losing money. I repeat my challenge to you. WHERE HAS ROYAL OAK ADMITTED THAT?" Royal's own numbers indicate a $5,000 per day loss at Kemess. I can't find my post now but I will. Do you know how to people search months past?- Bear in mind this is using Royal Oaks number of operating costs per ton at Kemess. I have ZERO confidence in this number. Also until Royal states otherwise I am using the low recoveries for gold and copper. I accept that the recoveries will improve as the mine is tuned. However Royal's estimates are often inaccurate to the extreme. "Why are you waiting for the second quarter results? The first quarter's results showed that Royal Oak was making money. Instead of acknowledging this fact. You stated this was "vodoo accounting" If the second quarter is profitable will you again state that it is vodoo accounting? " I have noticed a trick that the accountant wizards use. They push all costs forward as much as possible. This technique eventually catches up with them, usually in the 4th and Audited quarter. "Your acceptance of information seems to hinge on whether or not it fits into existing negative framework. " Correct. I disregard a lot of information I dream untrue. "Royal Oak has significant risks in mining a low grade deposit in a time period of declining metal prices of gold and copper. There is a significant risk of failure with the corresponding complete loss by shareholders." Is this your disclaimer? "There is a possibility that it may work and shareholders may make money. Who knows?" That's my point!!! Certain people Know. This thing should not be misrepresented. MB

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next