Manhattan Minerals (MAN.T) Message Board

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Gold/Mining/Energy : Manhattan Minerals (MAN.T)

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To: mineman who wrote (2651)	6/29/1999 4:10:00 PM
From: Claude Cormier	Read Replies (2) of 4504

Mineman, I am no mining engineer, but 3 different sources told me they think this will have a very low strip and operating costs. When I look at a few examples I have handy, Vueltas Del Rio of Geomaque and San Martin (Glamis) I have no doubt that you are wrong. Geomaque came out with very similar "erratic" <g> drill results and has a positive feasibility in with a strip ratio of 3.4:1, a grade of 2.51 g/t, a production cost of US$169 per ounce and a IRR of 25%. <<At $.65 per pound copper the underlying deep copper-sulphide beds are uneconomic so the gold zone is the only layer of possible interest.>> Mineman, be realistic... do you know many deposits that would go into production at current copper prices. This $0.65 is a 20 year low. Prices wont stay there forever. Plus, add in the copper, the zinc and the silver... and the picture changes. Anyway, this is way too premature. Commodity prices have always been subjected to cycles. We are at the low... and that is not when mine are brought into production. MAN has money and is exploring at the perfect time. It will be ready for when the moment when the cycle will be trending higher.

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