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Gold/Mining/Energy : ECHARTERS -- Ignore unavailable to you. Want to Upgrade?

To: rayy who wrote (953)	11/2/1997 1:18:00 AM
From: E. Charters	Read Replies (1) \| Respond to of 3744

There is copper.. not even KRY knows what the content is or its economic contribution. It has been said that it is an additional consideration. It isn't rich but it was suspiciously not paid attention to by Dome when an admission on the copper rights was allowed by the admissions judge. Dome could not mine the deposit without giving all the copper to KRY and it could not refuse to process it. The deposit is actually a copper gold porphyry. The average copper porphyry in the world is about .5% copper. Even the Detour mine north of Timmins and the McIntyre mine were technically copper porphyries. I am going to make a wild guess at about 5 pounds copper per ton. This would add 90 million a year to KRY's income, or about $6.00 CDN a share. It may be less but it may be more. I think that the gold at 1.3 grams is worth about $14.00 per ton US. or $18.00 CDN. So in my scenario the copper is worth 20% of the total value. Normally at seven times earnings one would expect the value of the company with 38 million shares out to be about $30.00 per share (CDN). echarter@vianet.on.ca