Manhattan Minerals (MAN.T) Message Board

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

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To: Elizabeth Andrews who wrote (3295)	7/27/1999 2:35:00 AM
From: TrueScouse	Read Replies (1) of 4504

Liz: I used a simple, approximate, and probably very unscientific method -- adjusting the grades of the relative metals according to their current cash prices. Thus, 1 ton of ore at 1.0 percent Cu contains $16.50 of metal (at 75 cents per pound), whereas 1 ton of 1.0 percent zinc contains $11.00 of metal (at 50 cents per pound). Therefore, multiply the zinc grades by 11/16.5 = 0.67 to get Cu equivalent. The same process for lead, gold and silver.... Bruce or Claude can probably tell us if this is an acceptable approximation. And I've no idea what a net smelter return is <g>. Howy

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