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

To: Thomas P. Talbot who wrote (538)	12/7/1997 4:46:00 PM
From: P. D.	Read Replies (1) \| Respond to of 1706

I think the price of RYO shares is sinking in part due to the drop in the gold price. It should also be noted however, that the exploration staff at the Giant Mine have been laid off save for two. I have also heard rumours that the mine might be closed in February BUT and I want to stress that, that came to me through many, many hands!!!!!! I like RYO although I am not a shareholder at the present time. Does anyone have the reserve figure on Kemess and calculated grades?

To: Thomas P. Talbot who wrote (538)	12/7/1997 9:29:00 PM
From: maintenance	Respond to of 1706

If you look at Witte's track record, and the fact that the gov't put in so much money, this mine is going to open. I can't imaging RYO merging or JVing. Witte built up this company from nothing and I don't think she will let it go. I have my money on RYO and I am not losing any sleep. It is clear that this low price of gold cannot be sustained. The only wrench thrown in is CB's, they have the abbility to keep gold low for a long time. I read that Lassonde estimates that they have about 7 years of demand hoarded. I have read other estimates that put it at 20 years. If we accept Lassonde's view the CB's could keep gold down for many years, maybe 30 years. I would really like to know who is buying all the gold that is being sold short or net sold by CB's, that might shed light on when gold might stop dropping. What I can't figure out is who is benefitting from this gold situation. Cheers