Manhattan Minerals (MAN.T) Message Board

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

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To: teevee who wrote (3746)	9/26/1999 3:47:00 PM
From: Claude Cormier	Read Replies (1) of 4504

Teevee, <<but how many fined grained, low grade, VMS deposits in Central and South America are currently in production by senior mining houses? >> That is not what MAN has. TG-3 is developing as a 100M tons+ deposit averaging 2% copper equivalent. There is potential for open pit or selective underground. By itself, it is not sure to be economic, but given the synergies with TG-1 sulfides and gold cap.... it will likely be. TG-1 is 45-50M tons averaging 4% copper, in a open pit confirguration with a very low strip ratio. Although fine grinding will be needed, it will be comparable to many other operation (most of them underground) already inexistence. Cost of $12 per ton are forecasted at the moment. But TG-1 has also 10M+ tons of 6+ grams per ton of gold equivalent, near surface. This stuff will be mineable at less than $100/ounce costs. 1/3 of the net cash flows from this operation will be applied to the cost of relocating the town and diverting the river. There is a problem only if the locals decide that they don't want their town to be relocated. But the survey says they all want better jobs and living conditions. What about infrastructures... they are the best one miner can find. Near a deep sea port, road access, water and electricity all available nearby. Add to all this the potential of more discoveries on the 15 other anomalies... Where is the problem ?

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