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

To: E. Charters who wrote (8476)	5/1/1998 11:03:00 AM
From: Greg Ford	Read Replies (2) \| Respond to of 10836

Eric, the information is from KRY's financial statements. Their most recent financial statements. What did I calculate incorrectly? As for your comments about mining, I have sufficient knowledge to know that their cash and production costs are amount the highest of producers in South America. In their 1996 annual report they stated "During 1996, the mill's capacity was doubled and although work on the mill curtailed production for the better part of the year, the Company now has the capability to exploit to a much larger degree the full potential of the prolific Albino 1 concession. Crystallex believes it can process more than 100,000 tonnes of ore from this mining operation in 1997 and maintain a production cost below the industry average." In 1996 they had throughput of 200 tonnes per day. They were expecting production to therefore increase from 73,000 tonnes annually to 100,000 tonnes. Based on previous grades this would translate to over 20,000 ounces of production in 1997. To September 30 they only had 6,999 ounces of production. I hope they had a great quarter. As Patrick correctly pointed out this production information is irrelevant regarding the ownership of LC. It does point to credibility however. KRY's credibility as a producer and your's as a self described :investment advisor". I pity your clients. Greg