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Gold/Mining/Energy : AZC - AZCO MININGS (AMEX:AZC)
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To: BHunt who wrote (99)6/24/1999 6:06:00 PM
From: Tim Hall  Read Replies (1) of 118
 
To help you with your perspective, here are some quotes from "Mining Engineering" June 1999, Industrial Minerals Outlook, the Mica section.

"US scrap and flake mine production in 1998 was estimated at 89,000 short tons valued at $9 million. About 52% was produced in North Carolina. Additional production came from georgia, New Mexico, South Carolina and South Dakota.

The scrap and flake mica was processed to produce an estimated 86,000 short tons of ground mica valued at $27 million."

Further on - - -

"Most mica was ground using a dry process. But a small quantity was produced using a costly wet process that preserves the luster and sheen of the mica particles and produces a higher value product. The estimated value of wet-ground mica used in the United States in 1998 was $910 per short ton, while dry ground mica averaged $163 per short ton."

The value of the wet ground mica was only about $.45 per pound. Using prices of 1 to 14 might involve a little dreaming. VBG

Tim
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