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Gold/Mining/Energy : Crystallex (KRY) -- Ignore unavailable to you. Want to Upgrade?

To: flightlessbird who wrote (5128)	2/11/1998 5:03:00 PM
From: ian dodge	Read Replies (1) \| Respond to of 10836

flightlessbird, gee, how to be noncontraversial here... Essentially, at $10+ a share, I don't think it matters what the court decision on Las Cristinas is. I think that a decision against KRY will kill share price and a pro KRY decision will not solve anything as I don't expect CVG or PDG will simply walk away. In fact a decision simply to hear the appeal would mean any clarification is years away. KRY at $10 a share with 36.5m shares outstanding (fully diluted) has a market cap of $365 m. Give KRY Las Cristinas and 14m oz, but exclude Albino (it has yet to operate profitably) and you have a value of $18US per oz (365/14 x .7). IMO $18 is high given POG @$300, PDG's cost estimates (about $200 oz production and $300 oz all up). IMO there are a number of proven reserves in South America and elsewhere (yes, including GLR which you will know I am long on if you "research me") which are cheaper which means KRY should "come back to the market". The reason I shorted now is I don't think the market is looking beyond the immediate court decision and when it does I don't think it will be as excited as it is now. I've been wrong before and I'll be wrong again, but this time??????