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Gold/Mining/Energy : Royal Oak-RYO -- Ignore unavailable to you. Want to Upgrade?

To: Eric Freeman who wrote (533)	12/6/1997 7:19:00 PM
From: Thomas P. Talbot	Read Replies (1) \| Respond to of 1706

When I bought the stock I liked its no debt situation. Now the leverage is working against the company. Based on the numbers somewhat lower gold and copper could be tolerated. But if the co had to be liquidated what about the value of the yet undeveloped low cost properties. Of note, the company has apparently increased its realized price by about 25 bucks by sale of call options. No spot deferreds now but if gold rises this will be a plus. You are right if gold goes and stays in the mid to low two hundreds we are in trouble unless copper skys. Kemess should have some value even if metals tank given the fact that someday metals will rise.