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

To: Michael Bidder who wrote (1348)	9/21/1998 9:19:00 AM
From: Bill Jackson	Read Replies (1) \| Respond to of 1706

Michael, Peggy has exited RYO??? This rally with no apparent reason from .60 to $1.13 can only be explained by good news in pipeline from kemiss. Do not forget that RYO has a number of ultraconservatice mine assessment guidelines. It could eaisily have a 50% or more hoigher grade as they will start t best place first and if all the conservative guidelines show up as too conservative.... You know how they do it, the assays say .1 and we knock off all over 1 ounce and take a lower average of .07, just to be on the safe side and then cut the amount by 20% and lower the extraction % from 96% to 90% rtc. So if you realize .1 and get 97% extraction and the crush energy is lower, it can make a big difference. Bill