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Gold/Mining/Energy : Bema(Bgo) and Arizona Star -- Ignore unavailable to you. Want to Upgrade?

To: twocents who wrote (7899)	10/21/1997 5:48:00 PM
From: gmweber	Respond to of 10482

twocents The Kemess mine from Royal Oak has considerable copper credits. Interesting!!! Royal Oak believes recent reports undervalue Kemess project Royal Oak Mines Inc RYO Shares issued 140,795,079 Oct 20 close $3.30 Tue 21 Oct 97 News Release Mr J. Graham Eacott reports The company's 100%-owned Kemess project is within six months of producing an additional 250,000 ounces of gold per year to the company's total gold production. As previously disclosed, Royal Oak estimates the cash cost of the Kemess project to be approximately US$79 per ounce of gold (copper is credited against operating costs at US$1.00/lb). The company calculates the net asset value of its Kemess project to be approximately C$836 million assuming a gold price of US$335 per ounce. This valuation does not ascribe any value to the company's other operating mines and exploration properties. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com regards gmweber