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

To: tanoose who wrote (5221)	2/12/1998 6:16:00 PM
From: Dan P	Read Replies (1) \| Respond to of 10836

Frank: That is just the point. The market is telling us which direction this is going. Believe me, Placer's abandoning the LC and leaving Venezuela is no fluke: notice the performance of Crystallex since! The male shorts must feel like they have vises on their private parts at this time, and anyone shorting at these prices needs some private counseling, at $150/hr. By the way, Placer has published a resource of 15 million ounces for the LC and has reported a 22 million ounce resource in the environmental impact study to the Venezuelan Government! The published figures for the reserve is 11.8 million ounces. Even at the current reduced gold price, it is fair to value the reserves at U.S. $50/ounce, the resource at $20/ounce, and we get to a market cap of U.S.$700-$850 million, without counting in the Albino, which will be a 60,000 ounce/year producer. We haven't even considered the other properties, Carobobo and Santa Elena, which have been barely explored. Amazingly, the previous president of Crystallex believed that the Santa Elena was the best property of the three! Hang in there longs, and let the shorts fall where they may, and (you can fill in your own conclusion). Regards Dan P.S. By the way, I wonder how many "covered" shorts there are up in Canada. As I understand it, the "covered" shorts don't have to be reported.