I'm taking the Number of shares outstanding, at this time at 300,000,000shares

projected production per year of 300,000ounces

assume value of gold at $900 per ounce

projected cost to produce- $356. per ounce,

Assumed profit of $544. per ounce

$544 X 300,000oz = 163,200,000 divided by 300,000,000 shares = .544 cents

One can argue about the cost of production, which we have been told that under the contract is fairly secure, but I will argue that the price of gold will be considerably higher, and should more than offset the cost of production.

The fly in the ointment is, how much more will the stock be diluted, prior to obtaining the proposed production.

The last time I checked Agnico Eagle, it was valued at 18 times earnings. The average gold mining stock was 10 times earmings. Take any P/E in-be-tween, KRY is a good deal, if my figures are correct.