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Gold/Mining/Energy : Crystallex (KRY)
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To: charred who wrote (9866)2/4/1999 7:31:00 PM
From: E. Charters  Read Replies (1) of 10836
 
They probably have more than the 430,000 ounces you credit them with. It isn't such a bad price for an operating mine if you can pay 50 dollars an ounce for an ounce in the ground, with no feasibility or mine and mill. You can pay 29 million to buy the ore and 29 million to develop it, easily. Barrick is alleged to have paid 1 billion for 7 million ounces at Peirina. But they are cheap ounces to mine. Most feasibilities too only factor in 1/3 of the ore that will eventually be mined.

EC<:-}
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