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

To: Edward W. Richmond who wrote (125)	1/25/1999 7:46:00 AM
From: john hackert	Read Replies (1) \| Respond to of 138

I do not have any insight. My concern is this: The cost to extract an ounce of gold is about $220 according to management. This number is the entire premise that the eventual feasability of this company rests on. First I don't know if that is US or CDN. Second is that the opportunity cost of an extra ounce of gold or the total operating costs divided by the total number of ounces. Operating costs don't always include interest payments or depreciation. So where are the capital and machinery costs. This company will have to either pay interest charges or eventually convert debt to equity .Finally are these figures audited or are they numbers someone has dreamed up? This company has been chewing up money for the past year but when the company is contacted they say there is nothing wrong. There has been a lot of dilution of the stock too. Obviously something is wrong the question is : How bad is it? If its not too bad maybe it would be worthwhile taking a flier.