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Gold/Mining/Energy : first quantum minerals FM on TSE
FM 27.190.0%Jan 8 4:00 PM EST
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To: Claude Cormier who wrote (282)1/11/2000 8:42:00 AM
From: Dan P  Read Replies (1) of 385
 
True: and this acquisition transforms the company into
an intermediate sized base metals/gold producer. Details
between Gencore and FM not public yet, but this is
a very exciting move forward by the company.

Production:
If you crunch the numbers, with an estimated 100,000 tonnes
of copper and 125o tonnes of cobalt (14000 copper
equivalent), or a total of 114,000 tonnes of copper equiv.
At current prices, this results in a cash flow of
approximately US $250 million. FM's portion of that is
not known at this time, but it could be as much as 40-50 %.
Presumably, FM can make this project profitable, although
under Zambian control, they were losing money. The high
grades of copper (3.1 % and 2.26 % respectively) suggest
that even at current prices, they should be profitable.

A real coup, and the market recognizes it.

Regards

Dan
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