While they may seem overly optimistic, I would be willing to readjust my computation based on a flaw in my data. All of my numbers are derived from known and reported facts (except my allocation for the Venezuelan risk, which is probably high). The five calculations that my analysis does not take into account are the lower mine costs in the first five years of mining; the opportunity to extract more gold from lower grades as the price of gold escalates; the current assets (including cash held by KRY); future gold price increases; and the value of other resources (La Victoria, inferred at Las Cristinas, etc.).

All of the above would only add to the value of the company - a drop in gold prices would obviously alter my analysis.

Please feel free to constructively criticize my calculation. I am by no means skilled in gold mining or stock valuing!