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

To: E. Charters who wrote (7315)3/23/1998 10:44:00 AM
From: Bucky Katt  Read Replies (1) | Respond to of 10836
 
EC--Explain your theory to those holding over-indebted stocks such as
Royal Oak and all the rest. Everything is relative. If you can't service your debt in bad markets, you will not make it.



To: E. Charters who wrote (7315)3/23/1998 10:49:00 AM
From: Gutman  Read Replies (2) | Respond to of 10836
 
Eric, you misunderstand. I said that "the present value of those ounces, in terms of profit, is only about 2 cents on the dollar." What I was referring to was a dollar of INCOME forty years in the future discounted at 10%, which is worth 2 cents today (actually 2.2 cents). This is a mathematical fact. I was not talking about the residual value of a fully developed gold mine with a mill and buildings, etc.

Best regards, Gutman


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