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

To: Michael Bidder who wrote (736)	3/16/1998 1:05:00 PM
From: MiamiMike	Read Replies (1) \| Respond to of 1706

Kemess Mine, The question isn't whether Kemess is profitable or not. It is more then obvious that it is profitable when you take away the capital costs. The question is whether Kemess is more then profitable to actually pay for any debts that RYO has incurred. That should be there first concern. Pay off the debts, and then look paying off the capital costs. It is going to be a long time coming if they actually do pay off all the capital costs. They are going to have to get pretty lucky with mining Kemess to actually cover all of the capital costs. Is this the first mine that Peggy has actually started from scratch? If!! RYO gets through this successfully, they'll probably be a lot more knowledgable and learn from there mistakes the next time there involved with a brand new mine. MiamiMike.