AURIGINOR INC-M.AUI Huge Volumes Montreal Exchange Message Board

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Gold/Mining/Energy : AURIGINOR INC-M.AUI Huge Volumes Montreal Exchange

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To: John Leather who wrote (79)	3/17/1997 8:31:00 PM
From: MICHEL GUIBERT	of 329

The mine is in Panama and in operation since 1923 AUI will pay a maximum of 5mm to buy the mine, the minimum they can buy is 51%, the mine produce actually 275 tons a day, reservs are 30mm tons, AUI think with some ameliorations they can make 1000 tons a day and make 6mm profits a year calculation are based on revenue of $48 tons of extracted ore, expenses of $12 a ton and a gold price of $350, production is 350 days a year.The actual owner is too old and want to sale the mine. AUI is 21mm shares, the official sale is supposed to be in april, now AUI is examinating everything before the official move Hope that help Bye MG

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