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Gold/Mining/Energy : Fortune Minerals Limited (TSE - FT)
FT 8.030+0.4%Jan 2 4:00 PM EST
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To: Elizabeth Andrews who wrote (569)6/12/2001 1:36:57 AM
From: Richnorth   of 612
 
Too bad I was away on vacation for the last two weeks or so. Otherwise, I would have replied much sooner.

However, I found to my pleasant surprise, upon my return that Dr. Webb had already answered a couple of your questions.

It is evident from your negative remarks regarding the viability of FT that you have NOT done your homework. Once again you have put your foot in your mouth.

Apparently you have never been to the Far North and have never been aware of the close proximity of a winter ice road, barge water way and of the Snare Hydro Electric complex to FT's property (NICO).

In the absence of data from an as yet to be conducted Feasibility Study, it is futile for anyone to give a definitive answer regarding FT's cost of producing cobalt/bismuth/gold. So, at this point in time, I will not venture that FT's cost is going to be in the lowest two quartiles of world production costs. But I am cautiously optimistic about FT's prospects of success.

What has escaped your attention is that even though FT's ore is low-grade, the deposit is huge and that such a huge deposit lends itself well to low-cost (hence viable) open-pit operation. Perhaps FT may be so fortunate as to find other Olympic Dam type of (huge) deposits in the foreseeable future. By the way, have you ever heard of the Nansivik Mines in the far North? If you have, I am sure you will begin to see what I am driving at.

So, at the end of the day, it seems to me it is not a question whether others know the difference between hot air and flatulence. 'Tis obvious you don't!!! After all, how could you know especially when you have become so inured to your own f's????
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