Cadre Resources (CSL.V) Awaiting production #'s and Financ Message Board

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Gold/Mining/Energy : Cadre Resources (CSL.V) Awaiting production #'s and Financ

CSL 303.76

+0.8%

Nov 19 4:00 PM EST

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To: Spiney who wrote (564)	6/8/1999 7:19:00 PM
From: Francis R. Biscan Jr.	Read Replies (2) of 1285

Hi Spiney, >>Could you bring me up to date with some of those #'s?<< First, for those who are newer to this thread. The numbers being used hear are from limited sampling and estimates. Also costs are derived from estimates from various sources. Although these numbers seem unbelievable, I believe they closely represent the potential of the project. I would expect that a large bulk sampling would be undertaken, if Teck and Martin Marrietta proceed, which will better refine these numbers. With that said, I have tried to use the low side of grades and values and the high side of costs. Still the numbers are remarkable. Rather then go through each year, I will use the cash flow numbers from the second year, which is based on 5,625,000 meters of production. The cash flow from the project works out to $64,644,104 U.S. or $10.77 U.S. per share, based on 6 million shares FD. Of course there will be either share or project dilution if a JV is undertaken. This is using $200.00 Gold, but the project is very profitable even without a gold aspect. Rich

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